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What else can I help you with?
What can a creditor do if you stop payments on a secured loan that was not reaffirmed?
Repossess or foreclose on the secured property if the agreement is in default.
Whats the least amount of payments do you have to make to get out of default?
Ask the creditor what they will take as a settlement. They don't have to settle but they might.
If an account is charged off but payments are current on the account can a lender repossess collateral?
If payments are current it would not be advantageous for a creditor to charge off an account nor in some cases legal. If there are arrearages on the account that is a different issue, as the account would be considered in default and property that was used to secure the loan could be seized.
Can they legally repossess your car if all your monthly payments are up to date but you have made a few payments a day or a week late?
Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?
If you bought a car for your daughter in your name and the payments and insurance are taken out of your account do they have the right to pick it up?
As long as the contract is NOT in default, NO. Read the contract. Payments current, ins. current, no other defaults?
Can the debtor file for bankruptcy after a creditor is awarded a default judgment because the debtor did not make a court appearance?
Yes, most judgments can be discharged in a chapter 7 bankruptcy.
If you have hidden the car until the payments are current can they still repossess?
As long as the contract is in default, the lender can repossess the collateral. Which would mean no? correct?? If the payments have became current the loan would no longer be in default? I am I right or wrong? You are wrong if the bank has already sent you a "notice of right to cure default" demanding full payment of the loan. Then they may (probably will)consider all the caught-up payments as part of that full payment and you have not satisfied the default. I guess it depend what state you are in, because I know in MD you can have the right ot get the car back one time, by simply becoming current with your payments and any of the repo fees.
can you transfer a traditional loan in default to a veteran's loan?
No, you cannot transfer the loan until you bring the loan payments to current.
If payment is a month behind yet two weeks ago made a full payment can they still threaten to repossess?
AnswerProbably, but if payments are kept current it would be unlikely that a creditor would take such action. When a scheduled payment is missed the account is in default even if the payment is "made up" and the creditor can exercisewhatever options might apply under the original agreement, including repossession of the item.
Can a lienholder repossess a car if it is not in default but in the impound?
As long as you continue to make the payments, they would have no reason the instigate a repossession. When a vehicle is financed or leased, the creditor has an interest in the vehicle and rights under the contract you signed. If you are in default of the contract either by default in payment or otherwise (failure to insure or other terms) the vehicle can be repossessed.
If I own a home with a co signer and file a chapter 7 will their credit be affected?
If the mortgage payments are still being made then no - they won't be, however - if you default on the mortgage payments then yes - they will go after the cosigner and if it is not paid their credit will be effected.
In New York State can a lender repossess a car even if it's current when you are in default on another loan with the same creditor?
It depends how are you in default.... is it because of insurance coverage??Need a little more info here to give you a better answer.
