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.
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.
Yes, you still own the debt.
if the car dealership does not pay for the car in full or pay their bills then the car would most likely be 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.
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.
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.
If you had the vehicle registered before it was repo'd, of course you do.
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.
dont pay the payments ever
Pay off your debt.Pay off your debt.Pay off your debt.Pay off your debt.
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.
2 that you want to consider. PAY it or file B/K.
If your was repossed you need to call the car company and pay your car
Most of the time you do, YES.
They will auction the car and you will have to pay the difference of what you owe and what the car sold for.
Pay the company for the car, like you should have during the time you had it.
Will be repossessed, be patient. You either pay off, or pay off. No longer able to make payments. They will repossess the car and sue for the difference. Sorry.
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.
IF the Lender agrees to it, yes. IF it gets the lender money, they will likely agree.
You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.
No. You cosigned on the loan. You are the bank's back-up payment if the first person defaults on payment and you become responsible. That is why it is very important that you trust the person you cosign for or you have the funds to pay for the car if they default. If you pay for the car, it becomes yours. Before it was repossessed, the bank should have notified you in writing. Then you have the option to take the car and pay for it. Both credits will by hurt substantially.
In most cases YES