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If a car is repossessed what are the options to pay this debt?
Wiki User
∙ 12y ago
3 or 4 options.1. Pay it off completely after it is sold and the lender tells you "PAY US NOW".2. tell Lender you are financially embarrassed and will pay it in installments. (IF you would do that, you would pay them now and not get repoed)3. Pay the lender what you can IF they agree to it.4. Wait until the lender gets a judgment for the balance owed and garnishees your wages.Lucky #5. Declare Bankruptcy.
Wiki User
∙ 12y ago
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If you had a car loan that included a 4000 credit card debt and the car was repossessed and there is a 13000 deficiency do you have to pay the full amount or do you have any recourse?
Yes, you still own the debt.
After a car is repossessed what happens to the owner of the car does he have to pay it off or what happens?
The former owner of the car, now still owner of the DEBT, gets to pay the debt. The leinholder will likely get a judgment for the balance due and proceed to collect. Uless your name is 'turnip", you will pay.
Can my deceased father's car get repossessed?
If there is debt and the estate isn't paying for it, yes. The estate should make arrangements to resolve the issue. If they don't pay the loan, it can be repossessed.
Can a car be repossessed from a car dealership?
if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed
Can your car be repossessed if there are children's safety seats in the vehicle?
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.
How can you locate your repossessed car?
Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.
Do you still have to pay a california vehicle registration debt sent this year if the car was repossessed last year?
If you had the vehicle registered before it was repo'd, of course you do.
Can you get a repossessed car back without paying the entire loan?
It is very difficult but if you have a good relationship with the bank they may allow you if you pay some of the debt down.
If you purchased a vehicle for your son in your name and it is repossessed what will happen to you after the car is seized?
Likely you will have to pay the loan off after the lender sells the car. lenders have some legal options that will collect from you.
What are your options if a car was repossessed and a bill is received 2 years later for 15000 dollars?
2 that you want to consider. PAY it or file B/K.
How can you get your car repossessed?
dont pay the payments ever
If your car was repossessed and your father co-signed for it and he is filing for bankruptcy will this be discharged?
Good news and BAD news. It WILL be discharged for him. It WONT be discharged for YOU. You will be expected to pay the WHOLE debt.
