You still owe the balance after the insurance money is paid, if there is a balance. You can only get rid of it, along with your other unsecured debts, by filing bankruptcy.
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
Was the lender demanding the BALANCE DUE when you paid only the overdue amount? IF so, your recourse is to pay the balance due. IF not, contact a local attorney for state/case specific advice. None, just because you paid the overdue balance don't mean nuthin to the lender.
Prepaid insurance is amount paid in advance that's why it is an asset of business and like all other assets accounts it also has debit balance as normal balance.
Prepaid insurance go to balance sheet as it is paid in advance and current assets of business.
Prepaid insurance is that amount which is paid in advance and no benefit has taken yet that's why it is current asset for business.
Yes it happened to a friend of mine he wasn't even aware that the insurance had been cancelled and when he got stopped at a check point they told him that his lincence had been suspended because he did not have insurance he paid a huge fine.
Depends on insurance.
Start by reading your contract. Then CALL the lender who sold it to get the balance due.
If you owed money on the car (which is probably why it was repossessed), you need to pay what they demand. Check the paper you signed when buying the car if you think they are 'demanding' something different than you signed. Your girlfriend was smart to cancel the insurance, since a repossessed car does not need insurance. You cannot sue your girlfriend for calling the car lot, or for cancelling the insurance, because you cannot show DAMAGES to yourself.
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
NOT unless the contract stipulates that it will be. Otherwise, it is a contract in DEFAULT with the collateral in the lenders possession.
Some do, most do not.
The best way to find out is to READ THE POLICY. What does it cover?? Was it GAP insurance or regular auto ins.? Ask your ins. agent to explain the coverages.
If your name is on the title, you can get the car and then pay the insurance. If your name is not on the title, you can pay the insurance to keep it from getting repossessed. If your name is not on the loan, quit paying and let her worry about it.
Yes and no it depends on the circumstances. For instance is it to a car or home. Anything can be repossessed if not paid for. Also if not repossessed it will have to be paid for if you're in the wrong and the person or company takes the matter to court.
Prepaid insurance is that amount which is paid in advance while actual expense is not incurred that's why it is current asset of business and will be shown in balance sheet.
As long as the contract is in DEFAULT, the collateral CAN be repossessed. One dollar or one day. Its a GAMBLE you take when you are in default.
It is possible to work out a deal with the bank after it is repossessed. However, a new loan or legal agreement will have to be signed.
Yes, you can sue a co debtor for at least half of the remaining balance. You would owe part of it as well.
Yes, however you can easily take care of this and have your credit reports corrected.
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
A statement of money received and paid with a balance is an account.
if you paid cash for the house do you need homeowners insurance