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The repo will effect your credit. The judgment the lender will get will effect your obligation to pay the deficiency balance. the letter wont effect anything UNLESS the car WAS stolen.

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โˆ™ 2011-09-12 21:46:32
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Q: How does it affect your credit or obligation if your repossessed vehicle was stolen from the lienholder?
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Related Questions

If your car has your mothers and your name on the title but she is deceased how does this affect you if it is repossessed?

Goes on your credit as a repossession.

Would a DWI affect the coverage of your insurance?

if convicted of dwi insurer can deny coverge for named insured and spouses cars if no lienholder.

If your child starts employment does that affect your child support payments?

No. You cannot shift your obligation for support to the child.No. You cannot shift your obligation for support to the child.No. You cannot shift your obligation for support to the child.No. You cannot shift your obligation for support to the child.

How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?

It has the same effect on the credit.

If a spouse's car gets repossessed after their death does it affect your credit rating?

If your name was on the note, yes.

Can repossession affect family members?

The only person it affects is the person the item is being repossessed from. Unless, one of the family members is a co-signer on a loan of the repossessed item. Then, they can bear the responsibility of repaying the loan and it will show on their credit report as well. I'm not aware of what is being repossessed, but the implications of repossessions may affect others...just not financially, unless taxes are involved (like a home).

Could a car repo affect your tax return?

For that to happen, the lienholder would have to take you to court for the balance of the lien, and a garnishment would have to be placed against you by a judge.

How does getting a car repossessed affect credit?

Stays on your credit rating for 7 years. Has a very negative effect.

What are the two factors that will affect the amount of kinetic energy on the moving vehicle on the road?

-- mass of the vehicle -- speed of the vehicle

What affect does gravity have on a vehicle?

It holds it down.

Can a car be repossessed if the title work has not yet been completed and whose credit would the repo affect?

Yes it can and will effect your credit

How do repossessed cars affect your credit rating?

A car reposession will leave a major black spot on your credit rating for 7 years.

Will marriage affect your child support?

In general, a child's marriage terminates the parents' obligation to support; however, this varies from state to state.The custodial parent's marriage will not affect the non-custodial parent's obligation to support that child, unless the new spouse legally adopts the child.The non-custodial parent's marriage will not affect the child support.

Does Speed Affect Braking Distance Of A Vehicle?


If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?

Only if the dealer reports it to the credit bureaus.

Will it affect your credit if a car is repossessed after the lease has ended?

YES - the fact that the original term of the lease had past has nothing to do with it since the payments weren't made.

How does tire size affect vehicle speed?

The larger the tire the faster the vehicle will go for every revolution of the wheel.

If I get a traffic violations does it affect someones insurance?

It can affect: 1. Your insurance premium (for your own vehicle, or your parents vehicle if you are on their policy. 2. Your employers insurance premium (if you drive for work) It will NOT affect: 1. Your friend's premium, unless you are scheduled as a driver on the policy

Does filing jointly affect child support?

Filing a joint tax return should not increase or decrease a child support obligation.

Will a private student loan that is currently deferred negatively affect your credit score?

It will appear as an obligation and as such limit the amount that will be considered for total monthly payment. No I don't think it will affect your your credit score.

How does mass speed of vehicle affect the braking distance?

t bvv

How does aerodynamics affect the speed of the vehicle?

It affects you because you're an idiot.

If too much weight is placed on a hitch what affect can it have on the tow vehicle?

front end will lift and make the vehicle difficult to control

Can your soon to be ex husband sign over his parental rights just because he wants to and for no reason?

Doing so will not affect his support obligation.

Do you have to pay taxes when country was involved in illegal war?

You are required to pay taxes. The fact that you don't agree with what they are doing with the money does not affect that obligation.