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Answered 2015-07-16 19:20:16
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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Related Questions
When can a bank repossess someone car?
when he has a credit
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.
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.
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.
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.
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".
Why credit provider decline if you do not have default or overdue account on your credit file?
why credit provider decline if donot have default, overdue,or court judgements account in credit file?
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!
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 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.
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.
Can you repossess a vehicle if it's been charged off on your credit and was stolen?
Yep!
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.
What happens if credit card dues are not paid n credit card company sues you?
they will take your money and repossess your belongings
Does and outstanding credit card loan that hasn't been paid ruin your chance of co signing for a car loan?
If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.
Can the dealership charge you with auto theft if you are in default on your payments?
Not if you are on the title to the vehicle and own it. Whoever holds the loan on the vehicle can repossess the car however if you are late with payments. Contact the lender and work something out. You do not want your car repossess. Credit will be ruined for 7 years, and you will still have to pay the repo fees plus the difference in the balance on the note and what the car brings when they sell it.
Is rent revenue credit or debit?
All revenues has credit balances as default balance like wise rent revenue also has credit balance as default balance instead of debit balance because all expenses has debit as default balance.
What is the different between cash credit account and current account?
Diff. between CC account & current account
If you were evicted out of your apartment because of default but the default was your roommate's fault does it affect your credit score?
Yes
Does co-signing effect the ability to get your own loans or student loans in the future?
yes if they default it will hurt your credit yes if they default it will hurt your credit
Do expenses have credit or debit?
All expenses has debit balance as normal default balance while all income has credit balance as normal default balance.
is revenue debit and expense credit?
No all revenues has credit balance as default balance while all expenses has debit balance as default normal balance.
What are the percent rates with the orchard bank credit card?
Different credit cards offer different interest rates. The percentage rate on an orchard bank credit card depends on the individual's credit background and the current stock market interests.
Can you get a student loan default off credit?
Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com Any default is going to stick around for about 7 years.
If you default on credit card payments can they take your car?
no
