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If you voluntarily return a vehicle to the finance company are you responsible for the balance after the sale of the vehicle?
Wiki User
∙ 16y ago
Yes, a voluntary repossession does not mean the buyer is not responsible for any of the remaining loan debt according to the original contract terms or for any additional fees.
Wiki User
∙ 16y ago
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If your truck is repossessed in Oklahoma is the finance company reqiured by law to get as much of the owed balance as possible.?
No. They will sell the truck at auction and it will bring what it will bring. You are then responsible for the balance.
If a mechanic has a mechanics lien on your car will this prevent the finance company from repossessing your car or prevent you from voluntarily having car repossessed?
No, what will happen is this: the finance company will pay off the mechanics lien (usually) and tack that on your loan balance, it would be considered a repo fee.
What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
Where do you find positive and negative numbers in finance?
In a company balance sheet.In a company balance sheet.In a company balance sheet.In a company balance sheet.
What can a finance company do if you voluntarily give them their car back?
They can keep the money you already paid.
What are the duties of the final accounts department in an organisation?
The finance department of a company is responsible for preparing final accounts. The prepare the Balance Sheets and the profit and loss account.
What is done with the finance charge assessed by a credit company?
added to the balance
Can you return a car bought on a personal loan when you were told it was on finance?
Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.
Who do you call when a car is up for repo?
If you want to voluntarily surrender your car, you can call the finance company and ask for instructions on how to proceed.
Monique's previous credit card balance is 199.26 and she has a monthly finance charge of 1.5 How much will the credit card company assess in finance charges on this balance?
$2.99
What is done with the finance charge done by a credit card company?
added to the balance
What is done with the finance charge assessed by a credit card company?
added to the balance
