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If your Harley was repo'd in December 2005 and you owed nearly 7000 after it was sold at auction do you still have to pay it if your credit report said the debt was written off?
Wiki User
∙ 17y ago
What do you think? Yes, you are still contractually liable for that debt under any color of law. What you are really asking is if they will puruse you if the debt has been charged off. The answer is that Harley likely won't, but likely someone, down the road, will buy the debt and pursue you. You generally have, depending your specific state laws, 10 years from the breach of the contract before the statute of limitations kicks in and prevents someone from collecting from you.
Wiki User
∙ 17y ago
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What happens when your return a car to finance company?
It is treated as a voluntary reposession and it still hurts your credit. They will auction the car and you will pay the difference of your loan and the amount they get from auction.
Where can you rent a motorcycle in Dubai?
MOTOR CYCLE CITY, HARLEY DAVIDSON DUBAI, NEED CREDIT CARD
Where could one US resident get a credit line to buy a Harley Davidson product?
There are many different places a US resident could get a credit line for a Harley Davidson product. First Union, Wells Fargo and Citibank are all banks that may offer a loan.
Does a loan company that does a voluntary reposession have to tell you how much the car sold for at auction and then deduct it from your amount owed before they report it to a credit agency?
They should.You can dispute it with the credit agency.Send the credit agency a dispute letter .
What has the author Arthur Levi written?
Arthur Levi has written: 'Credit insurance' -- subject(s): Credit Insurance, Insurance, Credit
Can a credit card company suzuki reposses a motorcycle if the title has no liens?
If you bought the bike on credit and miss the payments, they can and will repossess the bike and sell it at auction. Just like a car.
What has the author Darryl R White written?
Darryl R. White has written: 'You and your credit' -- subject(s): Consumer credit, Credit, Credit ratings, Loans, Law and legislation, Credit bureaus, Bank credit cards
What has the author A E Hancock written?
A. E. Hancock has written: 'Social credit' -- subject(s): Credit, Monetary policy, Social credit
What has the author Watson Ed written?
Watson Ed. has written: 'Pricing credit derivatives and credit risk'
Does the bank have to tell you how much they got for your car at auction?
Yes, and if they got more than you still owed, they have to credit you for the difference.
What happens to your credit if you give your house back to the bank?
The bank will put up the house for auction and recover the money loaned to you. Residual balance of the liability, if any, standing against your name post auction will be returned to you.
What has the author Neal E Hunt written?
Neal E. Hunt has written: 'Credit' -- subject(s): Bank loans, Commercial credit, Consumer credit
