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Can you be in default of your car contract if you make payments in advance and not by month?
Wiki User
∙ 14y ago
Yes. Generally, you must make your payments each month as agreed in your contract. If you pay more in one month, the surplus will be credited as an extra payment for that month only and you still need to make the next month's payment. If you have extra money to pay on the loan your should speak with the lender to arrange to pay the extra money toward the principal. That will shorten the length of the loan and may result in a refund of a portion of the interest at the end of the loan.
Wiki User
∙ 14y ago
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Does default means does not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
Does default means not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
In Delaware if you are a month behind on your car payments and they threaten to repossess it if you pay it in a week can they still come after you?
Standard answer. READ your contract. Then go to www.state.de.us and look up the laws. DEFAULT is default in any state. A few states have "20 day right to cure" laws that on give you 20 days to get out of default. Other than that, when you are in default of the contract, the lender can repo. Good Luck in DE.
If you only had one late payment which was 8 payments prior to your last month when the car was repossessed what rights do you have?
Read your contract. Basically, you have the right to pay the default amount, the repo fees, storage,ect and get your car back. UNLESS there are other defaults you forgot to mention.
If you've been making monthly payments on your car and and you are still a month behind can they repo it?
As long as you are in default, they can repo. Try to catch up the month behind. Send $5.00-10.00, whatever.
Can you use phone credit to buy android apps?
Yes that is the default way of buying apps on Android Market. If you are on contract it will be charged at the end of the month
Why is a car payment owed this month if 5 months have been paid in advance?
Paying a lump sum one month does not automatically negate the fact that following payments are still due. The lump sum just makes the payoff come sooner, so the final payments of the car loan may not be required. Contact your lender for more information. The proper method to pay in advance is to send in separate checks with each month's payment stub.
What are staggered payments?
Staggered Payments, are Part-Payments over a period of time. For eg: A has to pay USD1,00,000.00. Instead of paying the complete amount at one time, he may opt to pay USD10,000/- every month. However, it is important for both the parties to draw a Legal Contract.
If you pay every month can your vehicle still be repossessed if it is partially damaged but can't be repaired cause you haven't kept up insurance?
Read your contract. It may require you to keep ins. coverage on the car. No ins.= DEFAULT of contract= repo
How often will a lender of a car loan check your credit report if all payments are made on each month?
While you are meeting the terms of the loan contract and making all the payments required on time, the lender will not see that there is any problem with your loan.
Can you pay month to month for a Golds Gym membership?
Yes, you can pay month-to-month for a Gold's Gym membership, but it will probably cost you more than signing up for a 1-year contract. Sometimes gyms offer specials if you agree to remain a member for a longer period of time.
If you are making some payments but not all can they still repossess your car?
== Repossession== If they are accepting payments - that will reflect negatively on them if they try to take you to court on a deficiency balance, however they have the right to demand full payment of the loan at any time and take the car if you don't pay. Also - if you are just sending in partial payments that doesn't mean they are accepting them. They need to agree to the partial payments and how long it will go on. You can't stop them from repo by sending in some money every month. More input from FAQ Farmers: * Yes, I have found out that if you are in default (even if you are attempting to make payments), the bank at any time, can repo your vehicle...unless otherwise stated in your contract.
