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The first time you miss a payment... you made a committment... does your word mean anything?
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∙ 14y ago
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Can credit union hold title on car if car used as collateral and loan is default?
Yes. That's why the credit union has possession of the title. If you used the car as collateral for a loan and default on the loan the lender will take possession of the car and sell it to offset what you owe on the loan.
If you default on a car loan how long does it take for a lender to remove your name from the title and report the vehicle as stolen?
Does anyone know if your car is put in default what is the next step? Car I pay what is owed for the 3 months or does the full balance on the car have to be paid? Does anyone knoW?
Can they repossess your car if your living in it?
yes, it is a default on a loan
Are you in default of a car loan if the vehicle is not registered?
Registration of the vehicle has nothing to do with the loan or financing of the vehicle. The only was to "default" is to not make the payments.
Can you get a car loan if a student loan is in default?
Auto finance companies are very leary to lend to people that owe the government, so the answer is most likely no. Yes of cours you can get car loan if a student loan is in default there are many online sources which provide car loans for students.
What do you do if you lose the title to your car and it has a lien on it that you are default in?
You didn't have the title to begin with. The loan company or bank does. So, you didn't loose it, but you may loose the car since it is in default . The loan company/bank owns the car, not you.
What happens if you Car title loan in default and car is totaled?
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
What happens if you are in default on a car title loan?
The creditor reposseses the car, and you take the bus.
Is it a criminal offense to default on a loan?
It is criminal to default on a loan only if you know going into it that you will not be able to pay it back. You must be honest when agreeing to the terms of a loan.
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 happen if default on car loan?
The loan company takes the car. You loose it unless you make up the missing payments and pay the fees.
What is loan default?
If you don't pay a loan when due, you default on the loan.
