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Thats a personal decision for YOU to make. You likely will have to pay for any defiencey balance if you give it up.

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โˆ™ 2015-07-15 19:39:44
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Q: If you have a car that has never run properly do you continue to make payments or let the lender take the vehicle?
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How do you take over the payments of a vehicle?

You must talk to the lender who has a lien on the vehicle. It is up to them if you will be allowed to take over the payments.


Can you continue making payments on a car loan that is in the name of a deceased parent?

You should find the sales receipt. It might state on there what will happen. Regardless, payments need to be made and you should tell the loaner that she is deceased. You might want to contact a lawyer to make sure things go the way they should. * If the vehicle was not part of the inheritance the lender should have been contacted by the executor or administrator of the deceased's estate. If the vehicle was part of an inheritance then the beneficiary may contact the lender to arrange refinancing or refuse the "gift" and allow the vehicle to be recovered by the lender. In either case, a family member cannot simply keep the vehicle and continue to make payments without notifying the lender.


You are financing a vehicle but you can no longer afford payments what can you do?

Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.


Can you sell a car for parts that still has lien on the title and continue to make payments yourself?

The answer is NO, unless the lender approves of the sale. Contact the lender.


When arranging payments on a vehicle that you surrendered who sets the amount on what you pay monthly?

The same one who set the payments when you got the loan, the LENDER.


When can a car be repossessed in Texas?

In most instances when you get behind on your payments. The exact details of when the lender will repossess the vehicle is listed in the contract you signed when you took out the loan on the vehicle. Read your contract with the lender.


Is there any way you could get your payments lowered on your vehicle?

YES, Contact your lender and work something out.


What happens after a vehicle is repossessed?

The lender sells the vehicle, sometimes at auction. They attempt to get whatever they can for it. Often the price the lender gets is less than the outstanding loan. If the lender gets less for the vehicle than the amount that is owed, the lender will seek the balance (the difference between what was owed and what they sold it for) from the borrower. So, lets say you bought a car for $1000. You quit making payments. You still owed $800 when the vehicle was repo'd. The lender sells the vehicle at auction and gets $500 for it. The lender will come after you for the remaining $300. That's pretty much how it works. Bottom line: make your payments. This is where aflac comes in handy.


Can a car dealership repo your car if you already have a lender for the vehicle?

The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.


Can a lender repo a car if the borrower dies?

Yes, if those who control the dead borrower's estate do not continue to make the payments. The lender has a lien on the car, no matter who owns it.


Can you keep a vehicle after filing chapter 7 if they have not repossessed it?

You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.


What are the terms when you reaffirm a vehicle?

Unless the lender requests that you sign new documents, the original terms apply. You need to talk to the lender if you are behind and see if deferred payments can be made.


What are the North Carolina vehicle repossession laws?

When a debtor is behind on payments, NC law allows the lender to take possession of, or "repossess" the vehicle. A repo company on behalf of the lender can take the vehicle at anytime, anywhere that the vehicle is found and accessible. If the vehicle is in a locked fence or garage then the repo company cannot force entry to get to the vehicle.


Took over car payments can they take it back even if i made car payments on time?

I assume you took over the payments after the other owner missed payments. If you are caught up on all the payments then there would be no reason for them to repossess the vehicle. You need to contact the lender ASAP to make sure everything is fine. Failure to contact the lender may create a bad situation.


Can you leave your home to your beneficiary in your will if it is subject to a mortgage?

Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.Yes. However, the beneficiary must continue to make the mortgage payments or pay off the mortgage or the lender will take possession of the property by foreclosure. You should discuss the situation with the attorney who will draft your will.


Can the lien holder repo my truck when payments and insurance are current?

They will not repossess a vehicle unless you have defaulted on the loan. Defaulting on the loan is being late with the payments. Call the lender and talk to them.


If you have a car loan included in a bankruptcy do you have to continue making payments?

If the vehicle is protected by the state or federal bankruptcy exemption, you can try to reaffirm the loan agreement with the lender. If that's not possible you will be required to surrender the vehicle and will be probably be held responsible for any deficiency and applicable fees after the car is resold.


Can a repossession agent take a vehicle without waiting for the borrower to show proof that payments have been made?

Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.


Can a mortgage lender foreclose on your brothers property if you continue to make the pyments?

A lender can only foreclose if the payments are in default. They don't care where the money comes from as long as it keeps being paid on time.


After how many missded payments does a lender foreclose?

In most cases a lender will file a notace of default after 3 missed payments.


Do Mortgage insurance premiums payments have be escrowed by the lender?

Yes, Mortgage Insurance Premiums Payments do have to be es-crowed by the lender.


Does a co buyer have rights to the auto loan payments?

The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.


Can you set up payments for what is left after a voluntary repossession and the vehicle is auctioned?

You can always make an offer, but its up to the lender whether its accepted.


What bankruptcy can you file to keep your home if you are behind in payments?

If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.


Can my car be repoyed when you are on ssd?

Yes. If you do not make your payments on time, the lender will repossess the vehicle. They could care less that you are on Social Security Disability. Talk to the lender and do not allow your vehicle to be repossessed if at all possible. Explain your situation and see if they can work something out.