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If you voluntarily turn in your automobile what happens to you in reference to the balance owed on the vehicle?
Wiki User
∙ 15y ago
You are still legally obligated to pay the balance of the car note regardless.
Wiki User
∙ 15y ago
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What happens to your credit if you voluntarily have your?
what happens if i voluntarily return my car to the bank due to job loss
What happens if an insured automobile hits uninsured automobile?
the uninsured automobile owner rhas to pay out of pocket for the damage
What happens to my credit if I voluntarily give my car back to the bank?
Even if surrendering a vehicle is voluntary, you will still be responsible for the amount owed on the loan after the sale of the vehicle. Most lenders report to the credit bureaus and any unpaid balance will be reported, as will payments made or missed on this balance.
What happens when you voluntarily give back a car?
Bad things, among which is ruined credit for 7 years, payment of the balance left on the note after the bank sells your car. Not good things. Don't do it. Call the lender and work something out.
What happens to a title loan if the automobile is totaled in an accident?
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If you voluntarily turn in your car will it effect your credit?
YES! When you finance a car loan, you are NOT buying a car. You are BORROWING MONEY "secured" by an automobile. If anything happens to that vehicle, wreck, getting stolen or repossession (whether voluntary or involuntary); You are still liable for the amount of money you financed. This is why banks and other auto financers make you keep the vehicle insured during the term of the loan. The financer may auction the car for a portion of the remaining balance. If that is done, you are still liable the deficiency balance (whatever is leftover of the original loan). It will show as a "charge off, repossession" on your credit for seven years from the date of last activity.
What happens if you haven't paid the remaining balance after the repossession?
"remaining balance" as in what you are behind OR the remaining balance due on the loan??
What can you do if an automobile dealer cancels the contract after ten days?
Generally, an automobile dealer cannot cancel a financed contract after ten days. If this happens to you, you should contact a lawyer.
What happens when you copy a formula that contains an absolute reference to a new location?
only d formula will b copied not the reference..
What happens if balance does not exist.?
When balance does not exist, chaos takes over and things spin out of control. Balance is important in every part of life.
What happens when you lose your balance?
Your equilibrium loses track of a balance point, thus your body reacts the same
What happens if your claim balance runs out Calif unemployment benefits?
apply for welfare
