0
What are the consequences of a voluntary reposession if one is current on their payments but just tired of paying a 560 car note?
Wiki User
∙ 19y ago
consequences?? you still have to pay the balance due after the lender sells it at auction. NOT good. options??? Better idea. SELL the car,get all you can and pay the difference then even if you have to borrow the money. It will be much cheaper than idea above and you will reduce the payments,still have good CR. takes a little time, work with the lender but a MUCH better idea. MERRY Christmas
Wiki User
∙ 19y ago
Add your answer:
Earn +20 pts
Do voluntary mortgage payments get recorded as principle AND interest or principle only?
Not sure about U.S.A. loans, but in Canada, if you pay extra towards your mortgage, the entire payment goes towards the principle only. This is, of course, assuming that your mortgage agreement doesn't state otherwise, and that you are current in your regular required payments.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
What are the consequences of a poor credit rating?
For most individuals a bad credit rating can have the following consequences: * Applications for credit cards may be denied; * Minimum payments on current credit card balances may be increased; and * All types of loans, including getting a mortgage may be denied or the interest rate or the down payment may be higher than people with good credit ratings.
Can you refinance your home even if you are behind on payments?
You will make up the payments in the refinancing deal--check with your current mortgage company. Hopefully, you have some equity that will cover this and the cost of refinancing.
How does a balloon payment calculator work?
The balloon payment calculator takes into account your balloon payments, or your large usually last payment of your loan, and meshes it with your current loan and additional payments.
If you cosigned on a loan and voluntary have it returned can the company still come after you if the primary signer is making payments?
Don't understand what you mean by the phrase, "...voluntary have it returned..." However, as long as the primary indebted party is current in their payments there would be no reason for the loan company to contact you for payments.
Do voluntary mortgage payments get recorded as principle AND interest or principle only?
Not sure about U.S.A. loans, but in Canada, if you pay extra towards your mortgage, the entire payment goes towards the principle only. This is, of course, assuming that your mortgage agreement doesn't state otherwise, and that you are current in your regular required payments.
Does ford work with their customers on reposession?
Yes, but it depends on what stage of repossession your in; this includes past due payments, current balance, days last paid, bankruptcy, charged off or defaults, and also many other factors. The easiest way to find out is to ask them. Beware, they may say that you are safe for repossession but still send your account into collections.
If your car is in the shop but you are still making payments can they repo the car?
Not as long as the payments are current and have remained so.
If you bought a car for your daughter in your name and the payments and insurance are taken out of your account do they have the right to pick it up?
As long as the contract is NOT in default, NO. Read the contract. Payments current, ins. current, no other defaults?
If you are current with your bankruptcy payments will the IRS keep your income tax check?
No
Can a finance company repo your car if you are current on payments?
No...if you are completely current...and have nothing owing from previous months..again no.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
What are the consequences of a poor credit rating?
For most individuals a bad credit rating can have the following consequences: * Applications for credit cards may be denied; * Minimum payments on current credit card balances may be increased; and * All types of loans, including getting a mortgage may be denied or the interest rate or the down payment may be higher than people with good credit ratings.
Can the bank repossess a vehicle even if the payments are current?
Not IF you reaffirmed the loan with the creditor.
What is the exact meaning of 'current account'?
All payments due have been paid.
The ability to repay a loan or make payments on a debt out of current income is?
Subscribers
