good answer to check with the legal officer. the SSRA provides for max 6% interest while deployed. this depends on when you signed the contract,ect.
YES
Have your unit legal officer check the Soldiers and Sailors Civil Relief Act. The debt will not be forgiven, but it MAY be delayed without interest for the duration of your deployment.
Yes.
Not really. if they gave the car back, well ok, if they kept the car you have investment in the car that you can use on your side. They are probably showing you who's the boss. Be nice to them and work with them.
No.
If it is too difficult to maintain payments on a car loan, it is possible to voluntarily give it back to the creditor or dealership. In some states, however, a creditor can sue for the remaining balance owed on the loan.
Yes, its SO wrong. Same thing happened to me and the day I was to wire them the funds, they repoed my car. So, I got an attorney, filed bankruptcy and they gave me my car back. Now, they will get 1/2 of what we agreed on. Idiots.
If he gave it to her within two years of his death, the executor can pull the asset back into the estate to insure creditors are covered. Consult a probate attorney.
If you have signed a loan contract with a bank for the money to buy a car you are resposable to pay the money back.
A creditor is a person or organization to whom one owes money. A secured party creditor is one who has a lien on tangible property, such as a car or house, until the money is paid back.
If a car is repossessed it is usually up to the creditor, what terms and conditions have to be met to get the car back. Included with all the payments missed, there might also be fees like towing, late fees, etc. The creditor is probably going to want all of this paid up front to get the car back.
depends on the car
It really depends on the type of bankruptcy petition you file. If you file for Chapter 7 bankruptcy the creditor who put the lien on your car may be able to take your vehicle. If you file for Chapter 13 bankruptcy you'll have the opportunity to make payment arrangements with your creditor and in that case you should get the title back after all of your payments are made and your amended. contract with the creditor has been fulfilled.
If you don't reaffirm the debt, then the creditor has the right to repossess the car and sell it at auction to recover the debt owed to them, irregardless of what equity that you've paid. If you wished to keep the car, then you should have demanded that your attorney reaffirm the debt with that particular creditor.