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When it gets to your CR, a repo is a repo is a repo. Theres only one.

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โˆ™ 2015-07-15 19:47:56
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Q: If the lienholder repos car due to default and you never missed a payment and continue paying off car is that no different than a regular repo?
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Related Questions

Can a lienholder repossess a car if it is not in default but in the impound?

As long as you continue to make the payments, they would have no reason the instigate a repossession. When a vehicle is financed or leased, the creditor has an interest in the vehicle and rights under the contract you signed. If you are in default of the contract either by default in payment or otherwise (failure to insure or other terms) the vehicle can be repossessed.


How many months of payment will you have to default on before foreclosure?

legally: ONE Banks like to try to get you to pay up and continue on but can foreclose as soon as the first payment is late.


Default in a sentence?

Her account went into default for non-payment


Are sight drafts which require presentation of the vehicle title by the lienholder to the liable insurance company before payment is made to lienholder for a total loss commonly used in the industry?

Yes, they are the only manner of payment allowed in many states for claims payments.


What is the meaning of the word default?

It means if you had a loan payment and you missed the payment. That means your loan is in default. It also means an accepted outcome, i. e. "The default setting for my computer's firewall is medium."


Can you just pay interest on a mortgage to avoid default?

No. You must make your full payment to avoid being in default unless you make other arrangements with the lender.No. You must make your full payment to avoid being in default unless you make other arrangements with the lender.No. You must make your full payment to avoid being in default unless you make other arrangements with the lender.No. You must make your full payment to avoid being in default unless you make other arrangements with the lender.


Will bankruptcy payment be lowered when house payment is out of default?

Yes. in support with your bankruptcy lawyers experts.


Can they repossessed the car if you just owe the last payment?

The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed.


How do you get your motorcycle title after you paid it off?

The lienholder will sign off on the title and send it to you when they receive your last payment.


What does a bond rating measure?

The likelihood that the issuer will default on payment


Are you able to skip a payment?

No. Not unless that is a special feature of your contract with your mortgagee. Otherwise, skipping a payment will result in a default.


Example of an Default of the debtor?

An example of a debtor's default would be failing to make payment as specified in the loan document/contract.


Does General contractor liability insurance cover default of payment to subcontractor?

no


Does a creditor need to let you know in writing if you are in default of a car payment?

No they do not


What happens when a car payment go into default for the cosigner?

The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.


Can a car be repossessed if you are late making the remainder of the down payment but have been on time making the car payment?

YES, making the down payment is part of the contract and you are in default on it.


To avoid payment on a debt?

To avoid payment on a debt is referred to default. This will, in most cases, attract more charges as a form of penalty.


Can you get a repossessed car back?

READ you contract. Likely not on a 1st payment default.


What is a 1st payment default if it is not later than 30 days?

A first payment default , is when a bank calls the loan on your car because you are late on the first payment, 30 days or not, actually acording to your service agreement you are late like 4 days after the due day. they take it as a personal insult when you miss the first payment, also as a sign of things to come. usually if the repossess your car for a first payment default they will not give it back if you catch the payment. they will call for the full balence on the note and send the car to auction. Check out www.stoptheRepoman.com for other answers like this.


What is the average of first payment and early payment defaults in the auto industry?

$26,000 annually for a first time payment or early default payment. The payment will still depend on the location and size of company that one is working for in the auto industry.


Can a default payment amount stop repossession?

No, once the loan is in default, the only way to assure that you keep your stuff is to pay off the loan in full.


What is collateral security?

PLACING SOMETHING OF VALUE DOWN AS A GUARANTEE OF PAYMENT ,WHICH YOU WILL LOSE IF YOU DEFAULT .


Does car insurance payment continue during a suspension?

Yes it will continue unless you call and cancel the policy.


If you receive a payment to help with damages do you have to use the payment to fix the damages?

1The answer depends on several circumstances, none of which you mention, so the answer has to be that it could be yes or no. Years ago I used to be an auto insurance adjuster. The policy of the company I worked for was this:1. IF the vehicle was NOT paid for [had a lienholder, like a bank or finance company], we had to make the draft out to our insured, AND to the body shop that was going to do the repair, OR If the insured requested, the names of our insured and his LIENHOLDER.This basically forced the insured to get the vehicle repaired, or at least to contact his lienholder and report the damaged vehicle. It was then between he and his lienholder whether he used the funds to repair the vehicle.2. On the other hand, IF our insured's vehicle was PAID OFF, and the insured wanted the draft made payable to himself only, then that's the way we wrote the draft.3. IF the draft was to a third party claimant, regardless of lienholder or not, we wrote the draft to the claimant only.


Can your car be repossessed if the payment is two weeks late?

READ your contract. If you are in DEFAULT of the terms, you can get repoed.