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If an auto loan has been charged off can you still pay payments to the lender and keep vehicle?
Wiki User
∙ 14y ago
Why? If your auto loan was filled with your bankruptsy, you have the auto. I filled Bankruptsey but had not put the car on. If you had the car loan filled within the bankruptsy your done with the loans. wish i would have done that !!
Wiki User
∙ 14y ago
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Should you return a used car that has been totaled to the lender if you still owe two payments on the loan?
Returning the car to the lender will not relieve the borrower of the legal responsibility to pay the debt. The balance of the loan and any additional fees is still owed on the vehicle and is valid and collectible.
Can you suggest a website that informs you about loan amortization?
Your lender, or the lender you are considering. The amortization is going to break down payments further, so you have to consider what you still owe to the lender.
If your car has been charged off can it still be reregistered?
If the loan on your car was charged off then the lender has written it off as a loss. You can still renew your registration. It surprises me though that a lender would charge off a secured loan.
Can you sell a car for parts that still has lien on the title and continue to make payments yourself?
The answer is NO, unless the lender approves of the sale. Contact the lender.
Can they still repossess your car if you get caught up on the payments?
Depending on the state of residence, it is possible for a lender to still repossess your car if you get caught up on the payments. Certain states allow a lender to request full payment of an auto loan when borrowers fall behind, even if they have caught up on past due payments.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
If you filed Ch 7 last year and have a car you didn't re-affirm and just kept making payments can you just give it up and not owe any money on it?
Better ask your B/K attorney on that. OR the LENDER. IN FILING CHAPTER 7, YOU CAN KEEP THE VEHICLE AS LONG AS YOU CAN MAKE THE PAYMENTS. HOWEVER, IF YOU DID NOT RE-AFFIRM THAT LOAN AGREEMENT, YOU MAY SURRENDER THE VEHICLE TO THE LENDER. SINCE IT WAS INCLUDED IN THE BANKRUPCTY, YOU WILL NOT BE RESPONSIBLE FOR ANY FURTHER MONEY OWED TO THE LENDER. IF THAT LOAN WAS RE-AFFIRMED, YOU CAN STILL SURRENDER THE VEHICLE, BUT WILL HAVE TO PAY THE BALANCE THAT REMAINS ON THE LOAN PLUS ANY FEES, TOW, ETC.
If someone made payments to purchase vehicle and to pay remainder of balance when picking up the vehicle then changes mind is there a refund owed on payments?
No. You are not entitled to a refund if you made payments toward the purchase of a vehicle. In truth, if you signed a contract to purchase the vehicle, that vehicle is now secondary to the contract, you could still be held responsible for the balance of the loan, whether or not you still have the vehicle.
If your loan is current and you turn the vehicle back in to the lender can it still be reported as a repo?
YES! A repo is a repo. If you turn the vehicle in to the lender and stop making payments this is called a voluntary repossession. The lender will sell the car and you will be responsible for the difference in what the car sells for and the balance on the loan. It will be reported to all 3 credit bureaus as a default on a loan, and your credit will be ruined for 7 years. You would however save to repo fees such as towing. Do not do this. Call the lender and work something out if possible.
What will happen to you if your car is 6 months behind in payments and you still have possession of the car?
The lender will eventually repossess the car.
If you have the title to your vehicle can the bank still repossess it?
If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes
You missed one and a half payments but you sent half of one full payment can your car still get repoed?
Yes, you are still behind in your payments. Don't let this happen. Contact the lender and work something out.
