foreclose the debtor assets...
Send in a payment.
The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Once a loan of any kind has defaulted, there is no changing it. If you mean that you missed one payment, this is not necessarily a defaulted account. Once the lender sells your debt or passes it to an agency to recover the amount owned, then things are different. In the UK a missed payment or late payment will show on a credit search for six years. This can be removed if the total amount of the loan has been paid and you write to the credit agency to ask them to remove the information. Do not pay someone to do this, it costs nothing!
No. At the same time, the fact that one defaulted on a loan does not mean that they may write off the value of the loan from their taxes. Personal loans, unless specifically tied to a principal residence (e.g., [first] mortgage, home equity loan, home equity line of credit), do not increase or decrease one's taxes.
No
ask an asian.
Depends on your credit rating, how long ago you defaulted, and how much of a down payment you plan to make. A default will stick with the credit score for 7 years.
Yes, if you defaulted on the loan.
Personal loan calculators are generally accurate, but they should never be completely relied upon for the to-the-penny payment information. It is best to get the exact payment amount from your lending institution.
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
In the US, a Federally Guaranteed student loan is considered default after 270 days on non-payment. If you need help with your delinquent or defaulted student loans, click on the link below.