Our GA attorney never reaffirmed our home or 2 cars as he was supposed to. I learned several things about BK from this. 1) Once you have a completed BK, the unaffirmed agencies can not pursue you for debt collection (calls, letters, etc.) 2) One of our cars was stolen and partially paid off by the insurance company. We were upside down by a few thousand dollars, but the loan company never contacted us. (see #1) 3) With our house, we were told that foreclosure could not take place until 90 days following non-payment. 4) Nothing got reported to the credit bureaus for our cars or loans following our BK of 2003 even though one of our vehicles was paid off completely. Our credit report stated that our car loans were involved in BK. There was NO payment history from our BK to present for either! Keeping the loan current will certainly keep you in wheels and keep the creditor happy, but it doesn't seem to improve one's credit rating. I did read, however, in an earlier question, that BK plus a foreclosure is a double-whammy to your credit. Different rules may apply for GA than your state, but I would certainly look into this further before I allowed a foreclosure. Hope this is helpful to you!
Yes. The financial insitution will typically call you to set up a time to pick up the vehicle or have you drop it off if you do not intend to reaffirm the debt. They are not allowed to call you to ask for payment, but can ask for the vehicle. You can, however, continue to make voluntary payments on the vehicle and they will not repo it if you keep it current. If you do reaffirm the debt, that means that you intend to keep the vehicle and will continue to make payments on the vehicle, meaning that they are allowed to contact you about making payments.
Websites accept credit card payments through companies that offer payment and transactions processing services. The company processes payment, takes a fee and forwards payment to the company.
All cash payments made by the company.
There are a number of way to get a remittance payment. The policies for receiving this payment vary from company to company, and you should speak with your bank on how they handle remittance payments.
According to my mortgage company, "no." However, the bad part is that you continue to accrue late charges and in the event you accidentally missed a payment, they don't make the standard courtesy calls. They cannot pursue the money once the BK is complete.
The inference is that YOU shall be expected to continue to make payments to the issuer of the statement. It is not a standard comment unless you are a recipient of long term benefit payments or some kind of JG Wentworthable commodity.
Call and write the company. Tell the company that you are taking away your permission for the company to take automatic payments out of your bank ... Call and write your bank or credit union. Give your bank a "stop payment order". Here’s how you can do a stop payment order: Monitor your accounts
The address to send a payment can probably be found on the company's website or by calling the company and asking for the payment address. Many companies also accept electronic payments now as well, and these are processed securely and more quickly than mail.
the insured agrees to make a lum-sum payment or series of payments to an insurance company
Not a wise idea because your contract with the finance company probable holds the vehicle as collateral. If you no longer have the collateral they can demand payment in full to satisfy the loan.
the insured agrees to make a lump-sum payment or series of payments to an insurance company...
The only way to pay SMAC at this time is to either mail them a check or call and do a payment over the phone. They charge $3 to take a phone payment. They do take payments online as of now.