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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?
Wiki User
∙ 8y ago
When it gets to your CR, a repo is a repo is a repo. Theres only one.
Wiki User
∙ 8y ago
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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.
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.
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.
Will bankruptcy payment be lowered when house payment is out of default?
Yes. in support with your bankruptcy lawyers experts.
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.
Does a creditor need to let you know in writing if you are in default of a car payment?
No they do not
Does General contractor liability insurance cover default of payment to subcontractor?
no
