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If you are self-employed and your car gets repossessed how does the bank take action?
Wiki User
∙ 17y ago
The matter is the repo, not your employment. If your car is taken they will auction it off for what they can get and you will be held legally responsible for the balance. Regardless of the amount. Self employed or not. Yes, it is much harder for them to collect from you if you are self employed.
Wiki User
∙ 17y ago
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What can you do if your home gets repossessed?
Get a job
How much would it hurt your credit if the car you co-signed for gets repossessed?
Just the same as if it was your car repossessed. Legally, you hold the same liability as the primary buyer.
If a spouse's car gets repossessed after their death does it affect your credit rating?
If your name was on the note, yes.
If you cosign on a loan and they don't pay the bill and the car gets repossessed are you able to go after the primary debtor in court to make them responsible for any outstanding debt?
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.
Who are the customers of a bank?
if an individual gets any sort of service from that bank he is called the customer of the bank
What if the bank sells your repossessed car for more than you owe?
your auto loan gets paid off and whatever is left over goes to the bank
If you paid the fees and got your car back from repo but what if you miss another payment with the bank?
It gets repossessed again.
If a person gets their repossessed car back within a certain amount of time can the bank report it on their credit in Arizona?
If a person's car gets repoed, the bank can report it on their CR in any state. When they redeem it doesnt matter, its the fact that it got repoed that gets reported.
Do you still owe the bank when a car gets repossessed?
Usually, yes. The bank will dispose of the car (often by auction) and then come to you for whatever they lost and all fees associated with the repossession and sale.
What can you do if your home gets repossessed?
Get a job
How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?
When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy
What to do if your car gets repossessed in SC?
walk
Can a transfer of responsibility be made after car is repossessed?
No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.
What are the release dates for Hollywood Is Hard - 2011 The TV Gets Repossessed 2-8?
Hollywood Is Hard - 2011 The TV Gets Repossessed 2-8 was released on: USA: 2012
Can you retrieve personal belongings from a repo car?
Yes you can retrieve personal belongings from your car if it gets repossessed. By law you are allowed 7 days after your car gets repossessed to retrieve your personal belongings.
If you are leasing and your veichle gets repossessed what do you owe?
You will need to read you lease contract.
Can car be repossessed on locked property?
It can if the lender gets a writ of replevin, the deputy can take it.
