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Your options are to be sued for judgement, or file Bankruptcy or PAY. Fairly simple plan.

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โˆ™ 2015-07-16 19:25:10
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Q: If you have been contacted for the remaining balance and set up a payment plan what are your options if you are unable to commit to the plan?
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Related Questions

What is the term for the portion of the price that must be paid before the remaining balance can be financed on credit?

Down Payment.

What is balance of payment?

What is balance of payment deficit

Can your car get repossessed if you are not 30 days late with payment?

Yes. Most lenders give customers 10 to 15 days grace to make a payment or for a payment made to post. However, by the language of most car notes, anything past a certain period of time (usually two weeks) is considered delinquent, and the balance of the loan is owed. The lender at this point is not required to accept anything less than payment of the remaining balance. And, the vehicle can be repossessed at any time to secure payment of the remaining balance.

Advantages and disadvantage of balance of payment?

advantages of balance of payment

Can a debt be classified as a judgment if you made a payment and the collection agency contacted you and you showed proof of payment and are paying the remaining balance?

if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623

In regards to the question if you volunteer a reposession do you have to pay off your car loan what happens if you can't pay that balance?

Voluntary RepossessionOnce this vehicle has been auctioned off, the remaining balance that is left on this loan will be your responsibility to pay off. You can contact this collection agency once you receive a new statement of this balance. Usually the two options that you have is either make monthly payments or you can negotiate a settlement. Your best bet is to save anywhere from 30-50% of the remaining balance, and settle. Get everything in writing before making a final payment.

Existing Loan Calculator?

Existing Loan Calculator Use this calculator to analyze one of your existing loans. Calculate your remaining balance based on the number of monthly payments you have remaining. You can then click on the "View Report" button for a complete, payment by payment, amortization schedule of your loan.

India's balance of payment since 1991?

India's balance of payment since 1991

What are payment options for mercy insurance?

"There are a variety of payment options available for Mercy Insurance.

Does the balance of payment always balance?

International Balance of Payments

What is balance of payment and balance of trade?

Balance of payment is the difference between the money coming into the country and the money leaving the same country.

Can you pay your mortgage payment online?

You need to go to your lender's website and check there for online payment options.You need to go to your lender's website and check there for online payment options.You need to go to your lender's website and check there for online payment options.You need to go to your lender's website and check there for online payment options.

What does deferred payment price mean?

It means that you pay a lump sump and then monthly instalments for a specific time period and then you pay the remaining balance to own the car

What can you do if the lender repossess your car and they get half of the loan and you cant pay the balance?

The lender will come after you for the remaining balance after the car is auctioned.You can either declare banckruptcy or work out a payment plan...or thelender can seek a judgment to garnish your wages.

If a house is quit deeded to someone will the bank as for the remaining balance on the house?

Yes. Most mortgage documents have a "balance due on transfer' clause as part of the boilerplate language. If you transfer ownership the bank can demand payment of the mortgage in full.

Recently trends in balance in balance of payment in India?


Why is making a minimum payment on a credit card bad?

If you mean making only the minimum payment required, it is bad because you are going to be paying a very high rate of interest on the remaining balance. If you pay the entire balance each month, you are spending your money on goods and services. If you leave a balance, you are spending a lot of your money on interest. That's good for the bank and bad for you.

Elements of balance of payment?

Trade in goods Trade in service Imports and Transfer are the 4 main element of the balance of payment.

Why would it be useful to examine a country's balance of payment data?

why would it be useful to examine a country balance of payment data

What are the effect of deficit in balance of payment in developing countries like Nigeria?

ways of controlling deficit balance of payment in nigeria

What is balance of payment of Pakistan 2011?

Balance of payments in pakistan in 2011

What is Canada balance of trade and balance of payment?

Plus $85 billion

What does down payment mean?

A "down payment" is an initial sum of money or something else of value that is paid to secure the purchase, barter, or trade for another thing of value. In effect, it is intended to ensure that the payer will pay the balance of the agreed price, or will otherwise come through on his/her/its end of the bargain. Often, if there is not payment of delivery of the remaining amount, the down payment is forfeited.

If your car was repossessed 7 years ago can creditors come after you for payment now in the State of Georgia?

Yes. Well, maybe. Your are legally responsible for payment of the remaining balance of the loan for seven years from the last date of payment. In the event a judgment was obtained, you are responsible for ten years after the date of last payment. Quite likely, there is a judgment, as this would be the only security the lender has of receiving payment.

What is the difference between the balance of trade and the balance of payments?

the balance of trade is how much you receive the balance of payment is how much you pay