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Do most finance company allow you to pay the late payments and then continue with the agreed contract if the vehile was repossessed?
Wiki User
∙ 14y ago
If your vehicle has been repossesed then your best option is to no longer make payments until this vehicle has been resold; which takes place through an auction.
Once vehicle is sold you will receive a final bill for the remaining amount that was left over. The final stage of this process is to settle for 30% or less on the remaining balance.
Wiki User
∙ 14y ago
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What can happen if you miss time share's monthly payments?
What can happen if you miss your time share's monthly payments depends on the contract you have with the company you purchased the time share from. In most cases you can expect that eventually the time share will be repossessed by the lender and sold to someone else. You will still owe the money that remains on your contract, even if you don't have the time share any longer.
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
How can a Delinquent timeshare be reported as a foreclosure?
A timeshare is a similar contract to a house and requires regular payments. This can be reported as a foreclosure if you have abandoned payments and the company is taking back their property.
If you are facing repossession and have a buyer that will take over payments will the finance company refinance the car for the buyer?
not normally the contract is with yourself, not them
What is the difference between installment and annuity?
Instalments are payments for your debts which can be paid on monthly, quarterly or yearly basis or way to make payments. Annuity is insurance product which is contract between you and insurance company for your investments.
Can your motorcycle be repossessed if you take it out of Arkansas because your job requires you to travel?
Yes they can. It doesn't matter if your job requires that you travel. Your contract with the motor cycle company or bank requires that you make monthly payments. If you are not holding your end of the bargain by paying your payments to them then they have the legal right to reposes it no matter where you are. The contract with you and the company that holds the lien on your motorcycle has nothing to do with your employer. This is between you and your lien holder.
What can happen if you miss time share's monthly payments?
What can happen if you miss your time share's monthly payments depends on the contract you have with the company you purchased the time share from. In most cases you can expect that eventually the time share will be repossessed by the lender and sold to someone else. You will still owe the money that remains on your contract, even if you don't have the time share any longer.
Can anyone reposes cars?
Yes, your car can be repossessed by a company if you are behind on payments. However, it has to be a licensed repossess to be able to do this.
If the bank repossess your car do you still have to pay your car payments?
NO but why would they repo if you are making payments. You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other words, let's say you still owe $5000 on your car and the finance company sells the car at auction for $4000. They will eventually contact you and you will owe the $1000 difference.
Can your car be repossessed by the car dealership if you never gave proof of income?
If you are not making the required payments to the finance company that holds the lean on you car it may be repossessed. Proof of income is not required or relevant.
Can your car be repoed if you have full coverage and you licance is revoked?
You car can usually only be repossessed if you fail to make the payments to your finance company.
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
My husband died a year ago. Can the finance company repossessed my deceased husband's vehicle although I have been making timely monthly payments?
no
Can you sell your car if they sent you the title by accident and continue your payments?
Not a wise idea because your contract with the finance company probable holds the vehicle as collateral. If you no longer have the collateral they can demand payment in full to satisfy the loan.
What is the meaning of variable annuities?
A Variable Annuity is an insurance contract in which at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio.
Can a car title loan company continue to charge you when your vehicle is stolen and insurance handling the matter?
Absolutely. What you have is a financial contract. It is the same as any other finance agreement. You are required to continue to make payments and interest will continue to accrue until the balance is paid off. In order to keep whatever is left of your credit rating you should be advised to make your normal payments the same as you have been doing in the past.
Can a car be repossessed because someone is borrowing it?
I wanted to add to my original question...Our car was repossessed by the finance company because they said they found out someone else was using the car because of car payments being sent from a different address. AND, they stated that they wanted to see the condition of the car. I thought a car would only be repossessed if you were late on payments? I have never heard of this, so I don't know what is going on.
