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YES.

Not usually. In New Jersey if you have more than 90 % equity in the vehicle they can no longer take the car. BUT they can still damage your credit for 7 years and try to collect in court. In practice they almost always damage credit with a chargeoff or a closing of the account but they rarely sue for small ammounts though they still can.

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Q: If the principal is paid in full and the only payments left are interest from late charges can they repossess your car?

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It is unwise to pay minimum payments due on credit cards because the payment will cover only a small portion of the principal amount and more on interest and financial charges.

If the amount due has lapsed to the next month without any payments being made, the CC company will add additional "penalties" that may appear as added interest, but in reality the fines are added to the principal amount owed.

The creditor total payments will differ from the price of the sale unless you have a 0% interest loan. The interest armoritized in the amount of the total of payments. Some companys have simple interest loans, meaning that the interest is accumulated on a daily basis, rather than being financed for the full term of the loan. When payments are made in a timely manner or earlier, you will save alot on interest charges.

I live in New York State. I was able to have my car return to me in 24 hours. Of course I had to pay the missing payments,then the towing and storage charges. Hopes this helps.

Yes, they will both reduce your credit score and impact future payments on that card (e.g. increased interest rate, late fee charges).

Some state laws forbid the dismissal of such interest charges. In other situations it is at the discretion of the presiding judge.

The advantage is to increase the principal being paid on the loan which in turn will reduce the total interest paid on the loan whilch reduces the total number of required payments. So basically this allows you to save on total interest charges. But make sure your loan has no penalties for early payoff!

If the rate of interest is the same, simple interest benefits the borrower. Compound interest charges (or pays) interest on the accrued interest as well as the principal amount. This is why the APR (annual percentage rate) may differ from the base interest rate on a loan, or on revolving credit balances.

Keep the balances paid off to avoid interest charges. They can eat you up.

yes

2-5 months

Well assuming it is compounded monthly then the total interest rate charged will be 3.765%. The total interest paid will be $75.30. There will be two payments of $1037.65.

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