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Once the bank sells the car you are responsible for the balance due can the bank put a lien on your home if you don't pay that back?
Wiki User
∙ 12y ago
ONLY after getting a judgment for the balance due can the lender persue any other legal options.
Wiki User
∙ 12y ago
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When you give a car back to the bank will you still be held responsible for the balance of the loan?
Yes.
What happens when lease cannot be paid back?
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
If a car is repossessed from someone at a buy-here-pay-here lot then you take the car and it is given back who is responsible for the balance remaining?
Usually when your vehicle is repossessed it is auctioned off and the proceeds are applied to the balance of the loan after any commissions, fees or other charges are deducted. You are then responsible for the remaining balance.
What happens to your credit when you give a car back to the bank?
You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.
How many payments do you have to catch up on to get your car back?
You have to get current on your payment, plus the repo fees, plus the repo agency storage fees. And you have to do it before the lienholder gets impatient and auctions off the car - once that's done, you're still responsible for the remaining balance.
What happens if you car is repossessed and you don't work or have any property?
If you don't work, you have no money. If you have no money, you can't get your car back. It will be sold at auction and you will be responsible for paying the difference of what it sells for and what you owe. If it sells for MORE than what you owe, you should get a check for the difference.
Are responsible for recycling matter back into the food web once an organism has died.?
Decomposers take care of this part of the cycle.
What are responsible for recycling matter back into the food web once an organism has died?
Decomposers take care of this part of the cycle.
Which part of the brain controls balance?
The cerebellum, located at the back of the brain, is primarily responsible for controlling balance and coordination. It receives sensory inputs from the inner ear, eyes, and muscles to help maintain equilibrium and posture. Damage to the cerebellum can result in issues with balance and coordination.
You want to give back your truck to GMAC but it has a bent fender What would you do?
You need to specify if this is a lease or voluntary repo. You are going to ruin your credit for 7 years, and you are worried about a bent fender? It doesn't matter, they will sell the car anyway. After that you will still be responsible for the difference in what the car sells for and the balance on the note. Voluntary repossession is a stupid idea. Work something out with GMAC.
What store sells gimp?
The dollar tree sells gimp in the back of the store
You just filed chapter 7 bankruptcy you told them you did not want to keep your car so after you give it back will you be responsible for the remaining balance if it doesnt sell for how much you owe o?
If it was a part of the bankruptcy process, no, you aren't responsible. But it has to be specifically spelled out in the petition.
