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It will make a repo appear on ones CR and subsequent loans will require a higer interest rate and possibly higher down payment.

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โˆ™ 2015-07-15 19:29:55
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Q: If your payments are up to date but you want to turn the car in early because the payments is a financial burden what will this do to your credit?
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Related Questions

Why is it unwise to pay minimum payments on your credit card?

It is unwise to pay minimum payments due on credit cards because the payment will cover only a small portion of the principal amount and more on interest and financial charges.

What makes my credit rating increase?

By making on or before time payment of your financial liabliliies.. like EMI's, credit card payments etc..

What is an acquirer?

An acquirer is someone who acquires, or a bank or financialinstitution which processes credit or debit card payments on behalfof a merchant.

Where do you get help for financial institutions to understand what determines a credit score?

How your FICO score is determined is a will kept secret- but the main factors are how long you have had credit, the % of each credit line you have used, and late payments

What is meant by the phrase your financial commitments?

Break the phrase down into its parts. Financial refers to money -- whether owed by you or due to you. Commitments are obligations. Financial commitments would be your obligations to pay money to a company or person. These are typically owed regularly. Examples of Personal Financial Commitments include:child support; garnishmentslegal - liens and judgmentsother legal garnishmentsfoodhouse - mortgage paymentsapartment rental paymentscar paymentsgas, auto upkeeputility paymentsphone paymentscellphone paymentscredit card paymentsclothing expenses

If your SL is deferred until 2008 but you are being denied credit because of it is it better for your credit score to pay it all or to make payments?

if its deferred because you are in school... then you arent being denied credit because of it. if you dropped out of school then you have to begin payments immediately... if not then you default... which will get you denials. if you are deferred because you are in school... then it actually helps your credit because its an open account that's current.

How can you get your car payments reduced?

Call your financial institution you have the loan with and see if they will allow you to refinance your loan. Depending on your history with on time payments and credit score will help determine your rate change if any.

What is a high credit score rating?

A high credit score rating means someone is in good standing credit wise. They are prompt in payments and always pay payments in full. A good credit score is sought after by many people, because its a mark of a responsible person.

How do you add if you can your apartment rent payments to your credit score?

Your landlord would have to report payments to the credit bureau.

Where can I find a credit card debt calculator?

One of the websites with a good credit card debt calculator can be found on Make sure you have your financial statements ready to calculate your payments accurately.

If you have accumulated bad credit while in college can you be denied financial aid?

You can be denied private loans, and grad plus loans for late payments on your credit history. If you default on a federal student loan, you will lose eligibility for all federal financial aid (including grants).

What does PC Financial insure?

PC Financial does not insure anything because it is a credit card. Credit cards are used to purchase items with the expectation that the balance will be paid at a later date.

How can merchants process credit card payments in the event of a power failure?

Credit card payments cannot be processed in an event of a power failure. This is solely because the credit card payment requires a technical device which uses electricity. However alternative payments should be implemented as well as a power generator should be looked into.

If a mortgage payment is 20 days late will that be reported to the credit bureaus?

Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.

Why was Kai Wong's Wikipedia page deleted?

Because of the financial credit crunch.

Can I lose my house in Wisconsin because I have bad credit?

As long as you were given a mortgage and are keeping up the payments, you are not likely to lose it. However, if you fail to make payments on time, bad credit is likely to increase the chances of foreclosure.

What is a pay off credit card?

A credit card pay off is an application one would use to estimate the time and payments required to pay off their existing credit card. One could easily acces this information from any financial institution.

Why don't the formal financial statements contain debit or credit columns?

because the inside column on financial statements is used for subtotaling

Equity Line of Credit Payments?

Equity Line of Credit Payments For a ten year draw period, this calculator helps determine both your interest-only payments and the impact of choosing to make additional principal payments.

How does your credit rate effect your mortgage rate?

The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.

When was TruMark Financial Credit Union created?

TruMark Financial Credit Union was created in 1939.

When was Xceed Financial Credit Union created?

Xceed Financial Credit Union was created in 1964.

When was Tropical Financial Credit Union created?

Tropical Financial Credit Union was created in 1935.

When was Wings Financial Credit Union created?

Wings Financial Credit Union was created in 1938.

If your auto loan hasn't been updated on your credit score since Oct 2006 and you have made six payments that have yet to show up does this affect your credit if all payments are made on time?

if your payments are made on time, and your lender reports to credit bureau, your credit score might decrease, because your lender didn't report your auto loan. however, once report is made by your lender, following month your credit score will jump a little.