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NOT unless the contract stipulates that it will be. Otherwise, it is a contract in DEFAULT with the collateral in the lenders possession.

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โˆ™ 2015-07-15 18:40:03
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Q: Does your partial downpayment have to be returned to you if you never paid the balance and the dealer repossessed the car a few weeks after purchase?
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Are you likely to have to pay the balance if the finance company cannot get full amount for the repossessed car and how much does it hurt your credit?

The lilelihood is very good, almost certain, you will have a balance due after the sale. The only way they could get the full amount due is IF you had made a HUGE downpayment. You will have a repo and a judgment on your CR IF you don't pay any deficiency balance.


What happens to payments made after a car is repossed?

Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.


Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?

No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.


Can you get sued for the balance of your car loan after the car is repossessed and sold?

Yes.


Do you have to pay the balance after the car was repossessed and sold 3 yrs ago?

IF the lender obtained a judgment for the balance due, YES.


If your veh is repossessed in OKLAHOMA can you be garnisheed for any unpaid balance after auction?

Yes.


What happens when a car is repossessed and you are the cosigner?

You will also be liable for any deficiency balance


If a car is repossessed from someone at a buy-here-pay-here lot then you take the car and it is given back who is responsible for the balance remaining?

Usually when your vehicle is repossessed it is auctioned off and the proceeds are applied to the balance of the loan after any commissions, fees or other charges are deducted. You are then responsible for the remaining balance.


Are you responsible for the balance of a loan after the collateral is voluntarily repossessed and auctioned?

YES, read your contract.


You have one day before your car is repossessed is there any payment options?

Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no


When a car is repossessed does the finance company have to sell it for the amount it is worth?

no, they will sue you for the balance owed after the sale


If a car is repossed you do you still pay the reminder of balance?

When a vehicle is repossessed, it is usually put up for auction. If the monies recovered from the auction is not enough to cover the outstanding balance on the loan, the person the vehicle was repossessed from is expected to pay the difference. It's a bummer, but that's how it goes.


Where can one purchase the New Balance Express?

New Balance is a popular brand of shoes. If you are looking to purchase The New Balance Express, you can find them at the New Balance website, Amazon, and Macy's.


If your truck is repossessed in Oklahoma is the finance company reqiured by law to get as much of the owed balance as possible.?

No. They will sell the truck at auction and it will bring what it will bring. You are then responsible for the balance.


Where can one purchase a lab balance?

You can purchase a laboratory balance machine online from websites such as Satorius and Affordable Scales. Make sure to research the balance before you decide to purchase it to see if it meets your standards.


Where can I purchase a beam balance?

You can purchase a beam balance at home supply stores like Home Depot or Lowes. You can also purchase them online on eBay.


Why would you get a refund for overpayment on a repossessed car?

When a vehicle is repossessed, it will eventually be sold at auction. Occassionally, the amount received from the sale is greater than the balance owed. On these occassions, the excess is sent to the debtor.


If you pay your entire balance after your car is repossessed and the car is returned to you why will the lender report negative on your credit report?

Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.


What can you do if your car has been repossessed twice and they want you to pay the entire balance?

u have no choice now. What state?


Can you go to jail if you do not pay all of the remaining balance after a repossessed car is sold?

NO, there are no more "DEBTORS PRISONS".


Are you still responsible to pay off the remainder of your car balance once it is repossessed?

YES. Read your contract.


How do you regain possession of car that has been repossessed?

Pay the current balance, plus repossession and storage fees.


What is a deficiency balance for repossession Louisiana?

The deficiency balance in every state as relates to repossession is the outstanding balance of the original principle plus fees accrued by the repossession process that remain after the resale of the repossessed vehicle.


Can you reclaim your vehicle after it has been repossessed if you are willing to pay the full balance in Michigan your car was repossessed 2 days ago and Toyota financial is saying that they must auct?

technically, you have 20 business days to pay the balance owed plus all fees that were incurred during repossession.


How did the Congress of Vienna balance power?

It returned France to a Monarchy.