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If your name is not on the lease agreement and you stop making the payments will anything happen to you?
Wiki User
∙ 8y ago
Depends on what state you are in and what you do with the car AFTER you stop paying the notes. Do you have a grand plan to get a free car?? Either pay the notes or turn the car in. Be a real friend and dont screw over someone.
If your friend purchased the car, he probably used you as a reference. Once the payments are no longer being made, the finance company will search through all of the referenced to see if they have the car. It is best to finance your own vehicle and turn this vehicle in. If you continue to pay on this vehicle and eventually pay off the loan, you will never see the title because your friend fled. What's the point on paying for something that you will never have clear title to.
Wiki User
∙ 8y ago
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Can a collection agency report you to a credit bureau if you are making payments to the creditor?
Yes, they can. However, most don't provided you make a payment agreement with them and honor it until the bill is paid in full.
If you continue to make payments will bank continue to pay taxes and insurance from escrow if you do not reaffirm your mortgage after chapter 7 bankruptcy?
If you continue making the regular mortgage payments, including the escrow amounts, you are reaffirming the debt. It would be better to formally file a reaffirmation agreement that is approved by the court.
Are orchard bank online payments legal?
Yes, Orchard Bank online payments are legal payments. Making online payments is faster, easier, and often more secure for both the person making the payment and the bank itself.
Do you owe the bank anything if you stop making mortgage payments?
If the bank loaned you the money for the morgage and have not repaid it all then yes you do. Or any other outstanding debts you may have with them
Is it fair to pay on a loan you've had for 5 or 6 years and the balance is still the same I only borrowed maybe 1500?
You must be making minimal payments that are only covering the interest. You need to pay more attention to the details when you borrow money. You must have signed a loan agreement and failed to read the small print. That's how unsophisticated borrowers get taken advantage of. It isn't fair but it's something you entered into voluntarily. You need to pay more attention and start making much bigger payments.You must be making minimal payments that are only covering the interest. You need to pay more attention to the details when you borrow money. You must have signed a loan agreement and failed to read the small print. That's how unsophisticated borrowers get taken advantage of. It isn't fair but it's something you entered into voluntarily. You need to pay more attention and start making much bigger payments.You must be making minimal payments that are only covering the interest. You need to pay more attention to the details when you borrow money. You must have signed a loan agreement and failed to read the small print. That's how unsophisticated borrowers get taken advantage of. It isn't fair but it's something you entered into voluntarily. You need to pay more attention and start making much bigger payments.You must be making minimal payments that are only covering the interest. You need to pay more attention to the details when you borrow money. You must have signed a loan agreement and failed to read the small print. That's how unsophisticated borrowers get taken advantage of. It isn't fair but it's something you entered into voluntarily. You need to pay more attention and start making much bigger payments.
Can lender foreclose if home value decreases and you re making your payments?
No. A lender can foreclose only if you default on your mortgage payments. There are probably tens of thousands of homeowners who are making their mortgage payments on time even though their property has decreased in value. If there is no default there can be no foreclosure. I respectfully disagree. Okay it must be noted that we do not know the details in the lender's agreement with the signatory. Therefore it is possible for a lender to initiate foreclose based on something within the agreement something in the contract that has been violated. A foreclosure can in theory occur if you are making your payments because often times that is not the sole condition in the lender's agreement.
When you are making payments to a collection agency can they still sue you?
Yes, if the payments being rendered are not in accordance with the financial agreement. It is, however, unlikely that they would take such action as it would not be in anyone's best interest.
How do you respond to a lawsuit for bills you have been making payments on?
You would respond to the suit just like any other suit. File an answer that addresses each and every paragraph of the complaint with either an admission or denial. Then you would add that you have reached an agreement to pay the amount due and that you are making payments according to the terms of the agreement. This is an affirmative defense known as accord and satisfaction.
Can I put a lien on a car title I'm selling if the buyer is making payments to you?
You can if you listed yourself as the lien holder of the car at the time you transferred the title to the person making payments. If you did not do this at the time you transferred them the title, you can not legally do anything.
What would happen if a person owened a car and die but they still making payments?
The executor must make the payments from any assets of the deceased Estate until the Estate is settled.
You lent your car to a friend with the understanding a verbal agreement he would pay the car payments as long as he had it How do you get your car back the payments owed?
If it is your car, with your name on the title, he may have no legal right to the car, and then again he may, as he was making payments. You might seize the car but once you do that, he may very well sue you for all the payments he made or try to have you arrested for car theft. You have created a mess with a very bad agreement. You should have sold him the car and not entered into this foolish agreement. I would contact a lawyer for advice on what to do, otherwise you may do the wrong thing legally.
What are the 2 types of vehicle leases?
The two types of vehicle leases are closed-end and open-end leases. A closed-end lease is a rental agreement that puts no obligation on the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "true lease", "walkaway lease" or "net lease". An open-end lease is a rental agreement that obliges the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "finance lease".
Can an Home owners association put a lien on your property even while you are making payments?
You are not clear about who you're making payments to: the mortgage company for your mortgage, or to the association to pay assessments that are in arrears. If you mean payments to make up arrears, and the association filed a lien on your title, review the agreement that you made with them about making payments. It's possible that filing a lien is part of your agreement in some way. Or, that the association has filed a lien against you in error. If you mean payments to pay your mortgage, and you are not paying your assessments, your association filed a lien to collect monies that you owe in past-due assessments. (You have to pay both: mortgage and assessments.) If your assessments are up to date, check with the board to better understand why a lien has been filed by the association on your title.
What is a default letter and an order of consent in relation to bankruptcy?
A default letter is a letter to say you have defaulted on a specific loan or obligation. Meaning you have not been making the payments needed. An order of consent is a document that is created of an agreement between you and company you have defaulted on payments.
What agreements does the constitution prohibit the states from making?
The interstate compact agreement is the agreement that the constitution prohibit the states from making.
Do you still owe the lender if the court rejected your reaffirmation agreement?
Yes. The reaffirmation agreement allows you to continue to make payments on a secured loan and retain the secured property. The rejection of the agreement simply means the creditor can apply for relief from stay and repossess or foreclose on the property. If you have been making post-filing payments, the creditor may not bother and, in some states, under state law cannot proceed against the property.
If you are selling a car to someone and they have an agreement with you and then they stop making payments toward the car do you have to give them all of there money back that they have put towards it?
If you had a written agreement that they would pay you "X" amount of $$ per specified (time period) then they are still liable to make the payments. You should not give them a refund of the money ... they defaulted on a written promise to pay ... they are out the $$ ... you get to keep the car and the money.
