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If you have a 135K loan on an RV with 18 years left to pay it off what will happen if you stop paying if you don't care if they take back the RV and can they go after your other assets?
Wiki User
∙ 18y ago
Assuming the vehicle is repossesed and sold to satisfy the debt, you will still be responsible for any debt remaining after the sale. It all depends on whether the vehicle is worth more than the remaining debt. If you are "upside down" in the loan you are liable for the difference.
Wiki User
∙ 18y ago
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When are inheritance assets distributed?
After all matters involving administration of the estate have been concluded. This typically involves paying debts, possibly selling assets, filing all required tax returns, and getting discharged from the IRS (if such discharge is requested). It can take a very short time (two weeks is the quickest I have seen) for an uncontested simple estate to 10 years or more for complicated or contested estates.
How long does it take to re-build credit rating?
It will take about two years of on-time bill paying to recover. Of course, if your event was bankruptcy, that will remain on your record for seven years. Still, you can be well on the road to recovery within a few years. "When you are doing the right thing, the right things happen."
Why fixed assets depreciate?
Fixed assets depreciate because through depreciation process cost of fixed asset charged to all those fiscal years in which that fixed asset is used.
How long can a trustee keep a case open?
A trustee can keep a case open anywhere from several months to several years if they discover assets. They are allowed time to collect the assets and then sell them. After that, they will notify and distribute the money to the creditors.
What happens if you stop paying your monthly payments?
Your car will be repossessed, your car will be sold, you will be responsible for the difference in the price the car sells for and the balance on the loan plus repossession fees, and your credit will be ruined for 7 years. Contact the lender and work something out. Don't let this happen to you.
How many years does it take an asteroid to happen?
An asteroid to happen? Asteroid cannot 'happen'. It can collide with earth, or any other object with mass, though.
Can a 17 year old girl and a 26 year old guy have a sex-free relationship for a few months?
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What is depreciation of fixed assets?
Depreciation is the method of allocation of part of cost to all fiscal years to which fixed asset is used for revenue generation to income statement
What cause of two year different current assets?
Normal business operation will cause the differences in two years of current assets. Any company in business is in business to earn money, therefore current assets are constantly changing with purchses, sales, etc. If current assets constantly stayed the same from year to year, then the business would not be doing much turnover and would be bankrupt very quickly.A merchandising business for example buys and resales merchandise, therefore they purchase Inventory, sale the Inventory, purchase more Inventory, fluctuating the current assets constantly.The paying of expenses also decreases assets (cash), expense are what keeps a business in business.
Can a person gift assets prior to death in NY State to exclude other heirs from inheritance?
It is entirely possible to do so. But there are time limits that the gifts have to be given at least 2 years prior to death, otherwise the executor can call the assets back to the estate.
Can a couple get divorce but still live under same roof and another 3 years went by total of 9years together is she intitled to other marital assets in the household?
She is not entitled to any property or assets accumulated since the date of the divorce, other than her own, UNLESS they were purchased and/or titled in both names.
When are inheritance assets distributed?
After all matters involving administration of the estate have been concluded. This typically involves paying debts, possibly selling assets, filing all required tax returns, and getting discharged from the IRS (if such discharge is requested). It can take a very short time (two weeks is the quickest I have seen) for an uncontested simple estate to 10 years or more for complicated or contested estates.
You have a term policy for many years. one policy holder becomes incarcerated. Is policy still enforced if something should happen to that person?
As long as you keep paying the premiums the life insurance is in force.
How do you convert noncurrent assets into assets?
since noncurrent assets are fixed assets and current asset are business properties tend to be used within a years period example machinery a business can put their properties on sale example they can rent them out as hire purchasing from them the business gets money
How long does it take to re-build credit rating?
It will take about two years of on-time bill paying to recover. Of course, if your event was bankruptcy, that will remain on your record for seven years. Still, you can be well on the road to recovery within a few years. "When you are doing the right thing, the right things happen."
Why are you still paying them?
Why are we paying all these countarys and taking money away from our own military and disabled vets .why are we paying for japan after all these years and they started the war
Hi I'm 15 years old and i want to be independent by paying responsibilities of my own i want to make at least 500 a month online without any fees or other things?
If you are 15 years old and you want to be independent by paying responsibilities of your own, you can make $500 a month online without any fees by writing research papers and other academic articles.
