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Do lenders ever accept settlement offers on the deficiency owed after a car is repossessed?
Wiki User
∙ 19y ago
YES, make a serious offer. You do have leverage you can threaten them with Bankruptcy which means they get nothing, zero.Do not be afraid to use this or do it.. recovering from chapter 7 or 11 is much easier than it used to be.
Wiki User
∙ 19y ago
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Is there anyway to reduce the deficiency one your car has been repossessed?
You would have to negotiate that with the creditor. Many are willing to accept settlement agreements to have the deficiency paid off.
What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
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What to do when your dealer don't accept your payments after your car has been repossessed?
you take your payments to pay them and say im here to pay them kthxbye
Can your car get repossessed if you are not 30 days late with payment?
Yes. Most lenders give customers 10 to 15 days grace to make a payment or for a payment made to post. However, by the language of most car notes, anything past a certain period of time (usually two weeks) is considered delinquent, and the balance of the loan is owed. The lender at this point is not required to accept anything less than payment of the remaining balance. And, the vehicle can be repossessed at any time to secure payment of the remaining balance.
How much does a repossessed vehicle sale at action?
Truthfully a repossessed vehicle sells for what the bank is trying to get out of it and that is usually what is owed on the original loan and sometimes they will accept less for a number of reasons just to get rid of it and that would be damage to the vehicle, age and mileage.
How much is the cash settlement amount from an insurance company for an auto accident?
As little as they can get you to accept.
