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NOT a good idea. Besides ruining your credit rating, the lender will probably repossess the item or could take you immediately to court to recover damages. Depending on the circumstances, it could also be considered a criminal act, (i.e.: Larceny by Intent to Defraud).
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∙ 13y ago
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What is a 1st payment default if it is not later than 30 days?
A first payment default , is when a bank calls the loan on your car because you are late on the first payment, 30 days or not, actually acording to your service agreement you are late like 4 days after the due day. they take it as a personal insult when you miss the first payment, also as a sign of things to come. usually if the repossess your car for a first payment default they will not give it back if you catch the payment. they will call for the full balence on the note and send the car to auction. Check out www.stoptheRepoman.com for other answers like this.
What is the average of first payment and early payment defaults in the auto industry?
$26,000 annually for a first time payment or early default payment. The payment will still depend on the location and size of company that one is working for in the auto industry.
How do you know when you have a default on a car loan?
The first time you miss a payment... you made a committment... does your word mean anything?
How many months of payment will you have to default on before foreclosure?
legally: ONE Banks like to try to get you to pay up and continue on but can foreclose as soon as the first payment is late.
Can a vehicle get repossessed if your first payment is 15 days late?
Read the fine print of your contract carefully. I have never heard of a vehicle leasing/purchasing contract NOT having a first payment default clause.
If a car loan has been approved and first payment has been made on the loan can the lender change their mind and repo the car?
If there was any fraudulent information on the credit application, the loan may be in default. Check the loan agreement and the credit application for terms of default/recision.
What is the name of the default site link that is created when Active Directory is first installed?
The default link name is Default first site
What is an initial payment?
begining of your payment; the first payment you do
Can a BHPH dealer repossess on a first payment default without satisfying Colorado curing requirements?
http://198.187.128.12/colorado/lpext.dll?f=templates&fn=fs-main.htm&2.0 start here
What is the default page?
The default home page of a browser is the first page. It is the link which opens up first when loaded.
What is default setting?
default setting is the custom settings when you first open the page
What is the default home page?
The default home page of a browser is the first page. It is the link which opens up first when loaded.
