There are only 2 states where the statute of limitations is the longest--15 yrs., Ohio and Kentucky. Either way--the time starts when the last payment/sale of the car amt. was applied to the balance. Make sure your time limit is up when you call your Attorney General in your area. Have the name of the company, phone number and the name of the collector/s for the Attorney General Check the following link for your state's statute of limitations http://www.bankrate.com/brm/news/cc/20040116b1.asp?print=on I Would Contact Your County Attorney About This. Sounds Like The Sham Artists Are Out Again. I`m Almost Sure In No Way You Are. But For All Concerened, This Needs To Be Made Known. Call The County Attorney Give Him The Facts And The Person`s Name That Has Called.
Yes. If you signed the loan, you are still legally responsible for it.
The vehicle will be sold at auction, the proceeds will be applied to the loan and to the repo fees, then you will still be responsible for any remaining amount owed to the loan.
Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost
The owner of the car (person(s)) who took the loan on the car are responsible
Yes, he or she would be equally responsible for the repayment of the loan balance.
YES, read your contract.
Yes he/she is just as responsible for the loan as the signor of the loan.
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
Most likely not depending on what financial situation you're in.
The vehicle can be repossessed.
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.
You are responsible for the remaining balance of what the vehicle sells for and what you owed when it was repo'd.
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
Yes, your car will be sold and if the price they sell it for is less than the balance left on the loan, plus the repossession fees, you will be responsible for that difference and will have to pay it.
Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no
NO, as long as he co-signed the loan, he is standing good for the payment. They can get a judgment against him and garnishee his wages . Dont let that happen to your Dad.Take Care of Your Business.
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
YES! Including any interest.
You are unless it's a TITLE LOAN, they usually write it off.
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
YES, you pay all the loan amount, sooner or later.
Yes - unfortunately when you cosign a loan - you cosigned a loan and if the owner defaults you are still responsible no matter how old you are. You could check with the lenders but wait until they contact you.
IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.
When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.