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In California can a car company charge the remaining balance on a contract if the car gets totaled even though you have never missed a payment?
Wiki User
∙ 10y ago
Of course they can. They owned a car they were letting you use (technically, maybe you co-owned it, but unless you were just about to pay it off they probably had more equity in it than you did, and possibly a lot more). You crashed it. How exactly is that their fault and why should they have to bear the financial burden?
Wiki User
∙ 10y ago
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What if the company that repoed your vehicle sells it for less than you owe?
They will look to you for the remaining balance
What happens if you can't pay any remaining balance on a repossessed car and do not have a job?
The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.
If you voluntarily return a vehicle to the finance company are you responsible for the balance after the sale of the vehicle?
Yes, a voluntary repossession does not mean the buyer is not responsible for any of the remaining loan debt according to the original contract terms or for any additional fees.
What happens to a vehicle if the financial company says they don't want it and they sue the owner for remaining balance after repossession and sale?
If the finance company has sold it, you have you answer. How can you be so stupid?
If I foreclose on my house can the attorney come after me for attorney fees?
What I know about this is that a mortgage company that forecloses your house has no right to get the remaining balance to you.
Can the finance company or bank take you to court in Texas for a balance remaining on a voluntary repo that has already been resold?
YES, read your contract again to see what you agreed to. Tx is still part of the United States so the laws are still (mostly)uniform across the land.
Where do you find positive and negative numbers in finance?
In a company balance sheet.In a company balance sheet.In a company balance sheet.In a company balance sheet.
If you put 3500 down on a 5200 car and financed 1700 can the finance company repo the car and demand the remaining 1200 to return it in Oklahoma?
READ the contract. What does it say pertaining to DEFAULT?? Look for a clause that says "right to accelerate the balance due"? Someone did put down a lot of money and desnt owe much BUT, the contract and state law determines what happens. Merry Christmas
If you were involved in a car accident and it was not your fault are you resposible for the balance of the loan?
If the other party has insurance, then their company needs to pay off the balance. you are but you can sue their insurance for the loss but the creditor will expect you to owner the contract(the loan)
Do most finance company allow you to pay the late payments and then continue with the agreed contract if the vehile was repossessed?
If your vehicle has been repossesed then your best option is to no longer make payments until this vehicle has been resold; which takes place through an auction. Once vehicle is sold you will receive a final bill for the remaining amount that was left over. The final stage of this process is to settle for 30% or less on the remaining balance.
If a finance company is taking you to court for a vehicle can they still try to pick it up before the court date?
They can take it and then try to collect the balance due on the contract.
Can an HVAC company remove equipment legally from a customer's home if the customer has not paid their balance in full in the agreed terms and the customer has signed the contract?
The first thing you need to do is review your contract to determine what remedy was recited in the event you didn't pay in full. The HVAC company has a multitude of laws on their side.
