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You need to calol the LENDER and discuss this.

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โˆ™ 2015-07-15 19:52:30
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Q: If Chapter 7 BK is filed on a car loan will the bank repo the vehicle if the cosigner is willing to make the payments?
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Can a cosigner take the primary borrower to court to get possession of the car that the primary has not made all the payments?

If the cosignatory is willing to take over the payments, and the creditor agrees. But if the primary borrower rufuses to cede posession then yes.

How can a person get a no money down mortgage if they have bad credit?

This is a very unlikely scenario. Firstly, the individual must attempt to clean up their credit by raising their credit score- or by having a cosigner who is willing to accept all responsibilities of late payments and non-payments.

Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?

If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.

Can you get a loan if you are out of work?

If you can prove the ability to make the monthly payments or have collateral then yes. It is most likely that you would have to either own a large amount of paid for property that you could sell if you werent able to make the payments, or you would need a cosigner who would be willing to accept responsibility for the debt.

If it has been a year since your chapter 7 discharge and there is still no word from the lien holder on your car would they be willing to negotiate a release?

The question cannot be answered without speculation. The only way to find out what the lender would be "willing" to do is to contact them and negotiate a deal. When you filed for bankruptcy, you should have filed a document called a Debtor's Statement of Intention. You have 3 and sometimes 4 options: (1) return the vehicle; (2) reaffirm the debt and keep the vehicle by making the payments; and (3) redeem the vehicle by making a cash purchase for the fair market value (even if less than the amount owed). Some jurisdictions have a fourth option that allows you to simply keep the vehicle and make the payments without reaffirming the debt. If you kept the vehicle and failed to make payments, they would have every right to repossess the vehicle. They just couldn't go after you for the deficiency balance after selling it at auction. If you offered them enough money, they might be willing to you purchase the vehicle now.

When a cosigner on a vehicle loan dies does the vehicle become a part of the deceased's estate or can it be repossessed by the lender if all the payments are current.?

Get a death certificate and get him off of the loan. He is the secondary on the loan, not the primary so you are o.k. if you keep the payments current. Y-THINK-Y * The vehicle would not be subject to probate procedure. However, it would be the lender's decision as to what should be done concerning the loan. The lender could repossess the vehicle if another cosigner is needed and there is no one willing to take the responsibility. The other option for the lender would be to require the primary borrower to refinance the car in their name only. Many lending contracts will include clauses that relate to such situations, (death, divorce, etc.) that allow the lender to take almost any type of action to insure the security of the property.

If the cosigner can prove they made all the payments and paid off the loan can they take the car?

No. The co-signer would need to take all that evidence and sue in court to get title to the car transferred unless the owner is willing to sing over the title.

In Alabama how can a seller recover a court ordered balance if the vehicle is totaled and the buyer has no money and is not willing to make payments?


Does a repair shop have the right to keep a vehicle until payment is made?

Yes. It is called a mechanic's lien and they can maintain possession of the vehicle until the balance owed is paid in full. They may be willing to enter into an arrangement whereby you would make payments to them, but they are not required to do so.

Who qualifies as a cosigner?

In the loose sense anyone over 18 years of age who would qualify for such (per the institution) and is willing to do so.

Can you add furniture rental to your chapter 7 in MD?

you have the choice to keep (reaffirm) a rental contract or to cancel it. The lender might be willing to negotiate with you to reduce the rent. Any past due rent payments will de discharged.

How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.

Would your parents have to pay off your Wells Fargo student loan if they are a cosigner and you default?

If your parents are willing to be a cosigner, they may want to check into the new Wells Fargo Student Loans for Parents. With this, they would be fully responsible for repayment of the loan.

If someone hasn't paid child support for 3 years due to drug abuse and is now willing to make payments on arrears and continue current payments will they serve time in jail?

I doubt they will to jail for non-payment of child support -especially if they are willing to make payments on arrears and continue current payments. Sounds like they are starting to do the responsible thing.

Can a person with bad credit get a car loan without a cosigner?

Many places are willing to provide that service, but the interest rates are ridiculously high.

Can you refinance a car loan after the car has been totaled and repossessed to get lower payments?

NO. You no longer have collateral to secure the loan. Unless you are willing to use real estate or another vehicle that is fully paid off and owned for security.

If you are willing to make payments on a debt can a collection agency refuse the payments and continue to harass you?

A collection agency is not hired to get the amount paid in payments they are paid to get the amount in full. At this point the place you originally owed the money to and did not pay may or may not be willing to take payments being that they have now hired the collection agency to get the money from you. YOu can call the original creditor and tell them you are willing to pay and if they say no then you must pay the collection agency, I have never heard of any of them taking payments. When they get hired they try to collect as much as possible of the owed amount so they can get a higher commission. They dont want payments they want money in full....

Your father cosigned with you on a car and now you are moving and he wont let you take it you have made all your payments maintained it and takenc are of it.Can he legally take the car from you?

(note I am NOT a legal professional) I believe co-signing a loan only means that person promises to make the payments if the primary loan signer fails to make the payments. The co-signer has no ownership of the vehicle. I personally would talk with the company that gave the loan in the first place. IF you have been making payments consistently they may be willing to remove the co-signer from the loan, at which point the father would have no legal connection to the vehicle.

Rights of a co-signer on car if payments arent being made?

He has the right to make the payments or have his credit ruined. DON'T cosign a loan unless you are willing to make the payments if (when) the primary borrower defaults.

In a chapter 7 bk- if a car company send you a reaffirmation contract- can they later say that you cannot reaffirm the debt because the loan is matured and they are not willing to take payments?

are u referring to a lease? its not unusual for them to not honor it, but they usually do 4 a retail contract

How can international students get a cosigner for his or her education?

You'll need to find someone who is willing to pay your debt if you fail to pay the loan. That's asking someone to place a lot of trust in you.

If you're a cosigner and the primary misses payments just so it can fall on you and the primary benefits every time how can you fix this or can you take your name off the loan?

That's why the bank required a co-signer, so that they could be protected. They didn't TRUST the primary to be able to maintain the payments. You may have to go to court to get title transferred, then just take over the payments and sell the asset yourself. This is where a lawyer might be helpful. You might also contact the lending institution and make a deal directly with them. Tell them that you'll take over the payments, but you want them to repossess the asset. If you talk to them you can often find a helpful person who is willing to give you the information that you need.

If you are a cosigner for someone to buy a car the car is reposses you are willing to pay the balance oon the car, but the finance company refuses to release the bill of sell and the balance left on the loan. I am willing to pay the balance what do I do ?

You should speak with the manager of the finance company and explain that you are willing to pay the car off and keep your credit in good standing.

You Have To Buy To Begin?

If you are one of the Americans out there who have no credit whatsoever, know that there are things that you can still purchase. Car dealers who accept payments at their dealership will approve you for a vehicle as long as you have a down payment and you can provide proof of income. This will also give your credit a boost if you make the payments on time. Furniture stores that accept monthly payments will accept customers who have no credit. Find a store that is willing to work with you on a down payment as well as payment options in order to start a credit rating.

If a husband and wife divorce and the wife keeps the vehicle but the husband remains a cosigner can she file bankruptcy and let the vehicle get repo'd without his permission or does she need his sign?

Why would you want to let the vehicle get repo'd if your X is willing to take it? This is exactly why everyone hates their X, It has nothing to do with the relationship, Or, the break up, It Has to do with someone doing everything they can to SCREW the other. If He KILLS you for this, Then when you are at the point that you know you are about to DIE, Remember what I said. Just break ALL ties that you can, AND, Let bigons be bigons, You should be happy that you are free,