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In a chapter 7 bk- if a car company send you a reaffirmation contract- can they later say that you cannot reaffirm the debt because the loan is matured and they are not willing to take payments?
Wiki User
∙ 15y ago
are u referring to a lease? its not unusual for them to not honor it, but they usually do 4 a retail contract
Wiki User
∙ 15y ago
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I owe 4 payments on a car but the total left on the car is more than the 4 payments the bank said that it is like that because of late payment fees can they repo if i pay just the 4 payments.?
Late payment fees are agreed upon by you when you sign the finance contract, yes you owe the additional money as long as their addition of the fees is within the guidelines stated in the contract.
Can a bank repossess a boat if the payments are broughtt current?
Short answer is yes.Here's the thing. When you buy a boat or anything else on credit, you are not actually buying the property, you are buying a contract. The property only secures the contract (that is, it can be taken--repossessed--if that contract is broken). When you default (fail to pay) the contract is broken, no matter if you were late by only one day. Once the contract is broken, the penalties in the contract are enforceable. The most common penalty is repossession. If you pay current and sign a new agreement with the creditor, you may be permitted to keep the property (the boat) that secured the first contract. What you are doing is reaffirming. You are making a new promise.Most lenders will not begin the penalties phase of a contract until 60-90 days past due. Some primary lenders, like Chase for instance, may begin repossessions within a week of the missed payment. Once they take though, they are not obligated to give it back. they are obligated to sell it and apply the payment toward the debt. If they choose to sell it back to you (reaffirm), that is their choice to make. It is usually easier for the lender too, because when they reaffirm, they will demand all of your current information to make a second repossession easier, and the attachment of assets much simpler.
Why do rugby player s decline contract?
Like in any sport, a player may decline a contract for disagreements or the desire to negotiate different lengths or payments or because they wish to be a freelance player instead of a contracted player.
Can a vehicle be repossessed because the payment is 15 days late after 4 years of payments and only 3000 dollars owed?
If you are in DEFAULT of the contract, the collateral can be repoed.
If your payments are on time can they repo your truck just because a separate checking account is in default?
IF your loan contract calls for cross-collayteralization of the checking account, YES.
What is istisna?
ISTISNA is an sales contract, in which the client orders to the manufacturer to manufacture, construct or make something according to the specifications provided. This is an exceptional to the Islamic rules because goods are not existing at the time of contract. This contract can not be made for natural goods.=Payments for the goods and commodities can be made in advance, in future at the time of delivery, or future delivery and future payments in installments.==Istisna can be used for financing the manufacture or construction of houses, plant, projects, and the building of bridges, roads and highways=
Can your motorcycle be repossessed if you take it out of Arkansas because your job requires you to travel?
Yes they can. It doesn't matter if your job requires that you travel. Your contract with the motor cycle company or bank requires that you make monthly payments. If you are not holding your end of the bargain by paying your payments to them then they have the legal right to reposes it no matter where you are. The contract with you and the company that holds the lien on your motorcycle has nothing to do with your employer. This is between you and your lien holder.
You are a fireside bank customer should you still make your loan payments?
Fireside is a theft them self they take peoples money after the contract is over , like our contract was over in June 2010 an they still want 1980.00 more and they said its because we sent some payments past the due date, they are so full of, its not funny, but alot of the hispanic community is the once getting reped of ..!!!!!!!!
In California are you liable for payments on a voluntarily repossessed car purchased by your spouse prior to marriage if you never used it because you can't drive a manual transmission?
IF your name was NOT on the contract, you're NOT responsible for it. If it was , you are.
Can you still continue to make car payments and keep your car if you file for bankruptcy in NYS?
As a rule, yes. It's pretty common to do this, because people need a car to go to work.The court has to approve any debts you want to reaffirm, so if you have an income of #14,000 and the car is a Ferrari, the judge may tell you to get a car you can afford
What are the nc repo laws?
They are probably like anywhere else. If you do not make payments, the lender has the right to take back the car or whatever it was that you bought. That is because you signed a contract and did not hold up your part of the deal.
Can you sell your car if they sent you the title by accident and continue your payments?
Not a wise idea because your contract with the finance company probable holds the vehicle as collateral. If you no longer have the collateral they can demand payment in full to satisfy the loan.
