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Can your car be taken for late payments if you become disabled?
Wiki User
∙ 10y ago
Yes, it is not the banks fault you are disabled. You can conntact you loan company and they may be willing to work with you. But they are not required to change the terms of the loan.
Wiki User
∙ 10y ago
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If a mortgage payment is 20 days late will that be reported to the credit bureaus?
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
Does the lender of a second mortgage have any recourse if the payments become late?
Yes, they will report the late payments to the credit bureaus which will damage your credit score, and if enough payments are missed can commence a foreclosure action on the property.
What will happen if you are late with car payments?
If you are late, depending on who you owe, you can get taken to a collection agency, charged fines and/or have your car repossesed. I actually know two people who couldn't do the payments, it may have been for a couple of months, and their cars were repossesed.
If you have taken out a loan with someone cosigning and end up being late on payments and the cosigner having to pick up the tab will this hurt your credit rating?
VERY much so, not to mention your relationship with the co-signor.
Can you deduct late IRS payments?
No.
How long until my late mortgage payment results in a bad credit rating?
As your lender about the specific reporting policies. For the most part, late payments are not reported until the payment is at least 31 days late. Repeated late payments and excessively late payments will shave points off a credit rating.
If you fail to pay credit card payments on time how long will the missed payments be reported on your credit report?
Seven years. However, they will have less effect as time goes by. For example, late payments over a year old do not harm your credit as much as late payments from last month. Late payments over 2 years old are generally ignored.
After how many years are late payments removed I have credit cards in good standing with late payments from 082001 and 052002?
Between 7 and 10 years
How long paid delinquencies remain on your credit?
A delinquency usually refers to an account with late payments. The late payments report on the account for 7 years.
Are less than 30 day late payments counted as late?
no, you just get hit with a late fee.
Will a credit card company remove late payments from your account if you call them?
They can, but they don't have to. They usually will if you have had a good payment history with them in the past. If you have been late a lot, you can try to negotiate to pay off the debt to remove the late payments.You can also try and dispute the late payments to the credit bureaus. If they don't verify it with in 30 to 45 days, the late payments must be removed.
Can your vehicle be repossessed for late payments?
Obvious answer, Yes.
