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yes, however they can only take you to court for the total intrest.
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∙ 16y ago
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Do you have to pay the whole vehicle off if it is repossessed?
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
What can happen if you don't pay a title loan and you still have the car?
The vehicle can be repossessed.
Do you have to have insurance on a repossessed vehicle?
No. It's insured by the repossesor. Matter of fact if he wrecks it he has to pay.
Your vehicle was recently repossessed you were told that you would have to pay a 25.00 administrative fee to get your personal belongs from the vehicle Do you have to pay an administrative this?
If you want your property back, yes.
What happens if you have not paid your car payment in over a year and no one has repossessed it?
This just means they have not found it yet. They can pick it up and, they can take you to court and you will have to pay the amount owed plus court fees and fines for hiding the vehicle. If that's the case.
Do you have to pay the difference on a repossession car loan?
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
If a car is repossed you do you still pay the reminder of balance?
When a vehicle is repossessed, it is usually put up for auction. If the monies recovered from the auction is not enough to cover the outstanding balance on the loan, the person the vehicle was repossessed from is expected to pay the difference. It's a bummer, but that's how it goes.
What bad things go on your credit history if a vehicle is repossessed?
Slow pay, repo, and it gets worse from there.
Will insurance pay for a repossessed car?
Of course not! It wasn't stolen or wrecked, it was taken from you for failure to pay on the loan!Be sure to cancel the insurance.
Can a creditor take property to pay for a judgment that stemmed from a repossessed car?
Yes, in the event the court orders it.
Do you still have to pay a california vehicle registration debt sent this year if the car was repossessed last year?
If you had the vehicle registered before it was repo'd, of course you do.
Can you keep a vehicle after filing chapter 7 if they have not repossessed it?
You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.
