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Q: What are your options to take over the payments of a car loan with bad credit?
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What makes your credit score drop?

Late payments, No-Payments, Over the credit limit (Maxed out credit cards), Not having a good mixture of credit (Revolving Account, Installment Loan, Home Loan, Etc), and past history.

Is it good to have a loan when you have bad credit?

It will be hard to get a loan when you have bad credit. However, if you already have a loan and have bad credit on other things such as credit cards, then keeping your payments current on your loan can help improve your bad credit over time.

What is a loan amortization in reference too purchasing a car on credit?

When purchasing a car on credit, a loan is obtained and the loan is paid off over time. For example, a car loan paid off over 5 years, with monthly payments, is considered to amortized over 5 years.

Had a loan for six years but you had 17 payments over 30 days How does this affect your credit?

It will lower your credit rating as finance companies will view you as person slow to pay.

Does PNC Mortgage offer online payment options?

PNC offers a variety of payment options including online payments. Payments can also be made by transferring funds and credit cards over the phone or through the mail.

How will a deferred student loan affect your credit?

They do not help you establish credit. You have borrowed, but don't owe, so there's no information about the way you'll handle payments over time.

What are deferred payments?

Putting off payments until the end of a loan or to be paid over the course of the remainder of the loan. This will not effect the balance of the loan but there may be fees for not paying on time.

What are defered payments?

Putting off payments until the end of a loan or to be paid over the course of the remainder of the loan. This will not effect the balance of the loan but there may be fees for not paying on time.

How can you get a loan with 470 credit score?

Not sure why you are even asking. With credit scores (FICO, not Vantage Scores) of 300 - 850, you want to have your credit scores at least over 640+. If you can get them to over 700+, your payments would be so much lower. Research what the difference of payments are if your credit scores are higher and much lower. Do credit repair (legal by federal law) and enjoy lower monthly payments, better interest rates, obtain jobs, etc. Please don't even try to get a loan if your credit scores are in the 400 and 500 range. It just doesn't make any sense! Get educated, get your credit scores higher!!

According ti the Truth in Lending Law credit contracts must include what?

The law specifies that credit contracts must include the total cost of the loan, the finance charge over the life of the loan, the Annual Percentage Rate, the schedule of payments and the amount to be financed.

Do you have the right to sell a car after repossession on a cosigned loan?

Yes, but only if you are the cosigner. When you cosign it is usually for these reasons: The person the loan is for is a minor The person has a poor credit rating The person doesn't have collateral When you cosign you are 100% responsible for that debt. All the banking institution is interested in is getting their money, so if the car was repossessed the cosigner has two options ... take over the payments or sell the car and hope it pays off the total loan. It's a smart thing to do so it doesn't ruin one's credit rating. If you aren't the cosigner, but the person the loan went too, shame on you! If you can afford to continue to make payments now, then you could have made those payments on the loan cosigned by someone who was nice enough to do it.

Is amortization of a loan done by all loan places?

Loan amortization is the paying off of a debt over time, through payments. The payments include interest as well as paying of the debt. All loan companies do offer this.

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