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READ your comtract on the loan and the card. Word to look for: cross-collateralization

NO they cannot. Credit cards are unsecured loans. (not secured by any property/collateral) You can have them discharged through bankruptcy.

YES THEY CAN. Read your contract. I'll bet it says they can accelerate (call in) EVERY loan you have with them if you are in default on ANY loan with them. And some even say "or with any other lender".

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โˆ™ 2015-07-16 19:20:16
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What is forfeiture

Which of these is the best description of delinquency

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Q: If you have a car loan with Chase that is current can they repossess your car if you default on a different credit card with them?
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Related questions

Can you get a loan at 18 for an apartment with no credit or parents help?

It may technically be possible, but it's unlikely. At 18 you will have no credit history, which makes you a bad risk, and "a loan for an apartment" doesn't sound like there would be any collateral to repossess should you default.


Can a co-signer ask the bank to repossess the property covered by the loan?

No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.


Does your bank offer different credit card for students based on their age, credit, and current employment?

There are several different credit cards offered by banks for students based on their age, credit, and current employment. There are other criteria as well.


Can the credit company repossess your new truck if you voluntarily let them repossess your old truck?

Only if the two loans were "cross-collateralizied".


Are current assets debit or credit items?

Current assets are debit as all assets has default balance debit so current assets as well and these are shown under current assets section of balance sheet.


If you default on your pay day loan will that affect your credit?

Yes, if you default on any loan it will affect your credit rating negatively.


Can you repossess a vehicle if it's been charged off on your credit and was stolen?

Yep!


If you stopped paying loan but then paid to become current does your credit score rise?

It probably doesn't make sense to answer this question without some larger context, but in general, yes; bringing current a loan in default is good for your credit and good for you.


If you live in Texas and have two cars financed by different banks and you haven't kept up with payments on one of them can they take the one that is current on payments?

Don't know for sure about Texas, but in my state of Ky, they will repossess, the car the default loan is held on. They have no legal right to take the car that is not in default. You do not want to have your car repossessed. Talk to the lender and work something out, even if you have to sell one of these cars. Repo, is the worse thing that could happen. They will sell the default car for around wholesale, and you will be required to pay the difference in this and the balance on the loan. Plus, your credit will be ruined for 7 years. Bad idea!


Is cash a credit or a debit?

Cash is a current asset of business and like all other current assets which has debit balance as default normal balance cash also has debit balance.


What happens if credit card dues are not paid n credit card company sues you?

they will take your money and repossess your belongings


What kind of agreement is a credit default swap?

The agreement for a credit default swap is a document that states the buyer will reimburse the holder in the event of a loan default or other credit event. This is essentially insurance against someone not paying you what you are owed.

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