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YES, you pay all the loan amount, sooner or later.

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Q: Do you still have to pay part of the loan depending on the value of the car if it is repossessed in California?
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Who retains ownership of a vehicle that was repossessed when the borrower has his wages garnished for money still owed?

The lender owns the vehicle and is required to sell it at a public auction for as close to the market value as is possible. It is likely the judgment wage garnishment is a result of money still owed on the original loan amount plus fees that were not covered in the sale of the vehicle.


Can the bank repossess a 30K dollar car when less than half is still owed and only 128 dollars is past due?

The bank can legally repossess a car at any time you default on the loan regardless of the vehicles value or the amount past due. If your car payment is due on April 1st and you don't pay than you are legally in default on your contract. If you make a partial payment (less than the amount you agreed to pay in your contract every month) and the bank didnt agree to this arrangement then you are still in default. The best bet would be to pay the $128 before the car is repossessed or to pay the back balance owed if it has already been repossessed.


What is the value of 1917 2 BILL?

$20 or more depending on the condition


Do you have to pay the balance of your car loan after it is repossessed?

yes you do so the bank or dealer wont report it to creditors. When a vehicle is repossessed it must be legally sold for the fair market value, or as near as possible to that price. The amount obtained by the sale is applied to the remaining balance of the loan. The borrower is responsible for any deficit amount plus applicable fees. A repossession is almost always entered on a credit report.


Is policy remain valid if premium due is not paid?

Depending on the type of life insurance policy, if a premium is due there is a grace period while payment can still be made to keep the policy in force. Grace period is usually 30 days. If the policy has cash value, premiums can be paid out of the cash value. Once the cash value depletes the policy will lapse if no additional payments are made.

Related questions

Can you let a car be repossessed with scratches on it?

A car can still be repossessed if it has scratches or some slight damage. The current value of the car is normally used when netting off the debts.


If you still owe for a car that was repossessed three years ago can they take your new vehicle that is fully paid for?

Depending on your state, the LENDER can get a JUDGEMENT and attach your "paid for" car(or anything else of value in your name) so when you sell it, they will get paid first.


If you hold the title and its in your name can your vehicle still be repossessed?

Well, if the title lists no lienholders, it cannot be repossessed. If it lists one, it would be best to surrender it or don't keep anything in it of value. Yes. Even if the lien is not recorded on the title, it hass probably still been filed with the state.


Can a tractor be repossessed?

Yes, as long as it has some value


Shoplifting in California?

. . . is a crime. Depending on the value of the items you steal, it can be either a misdemeanor or a felony.


In Virginia can a credit company repossess your car and still demand the money owed above the value of the car?

When your car is repossessed, they sell it for what they can get. Value has nothing to do with what price it brings. They simply get what they can. You are then responsible for the difference in the amount they sell the car for and the balance on the note. Your credit is then ruined for 7 years. This is why having a car repossessed is a horrible idea, and should be a last resort.


Value of m77 mark11 still in box?

500-1000 USD depending on specifics


What can you do with a car that is still financed but has a blown engine and is not worth fixing?

Continue to make the payments if you value your credit score Otherwise it will be repossessed running or not and that's a big black mark on your credit


What is the value of a 1970 ruble?

The value of 1970 ruble is 1-4 dollars depending on quality. But still it's cool coin :)


Is it a criminal offense to strip and sell parts off a vehicle before letting it be repossessed?

Yes. The charge might be grand larceny depending upon the value of the vehicle, amount received for the parts and other extenuating circumstances.


How much for street value on vicodin m357 in California?

anywhere from $5-$10 per pill, depending how nice and how close you are to your source


Can you get a repossessed boat cheap at an auction?

Often repossessed boats are sold for 60%-75% off their book value. You can however encounter bidding fees and will need to have a deposit as well if you are the winning bidder.