What can happen if you miss your time share's monthly payments depends on the contract you have with the company you purchased the time share from. In most cases you can expect that eventually the time share will be repossessed by the lender and sold to someone else. You will still owe the money that remains on your contract, even if you don't have the time share any longer.
Creditors usually don't file garnishment unless you miss payments. If you make payments on time there's no reason to file. They have to have a reason before the garnishment can happen.
Fore-closer is when you miss a year or more of mortgage payments in a row and the bank will send you papers. if you don't make a payment after the letters, you loose your home. (would not want that to happen to me)
They stop collecting
Not sure the case in Oregon, but usually after 3 missed payments, the foreclosure proceedings start.
If you are back payments, been getting (or had gotten) nastygrams about it, and the loan is a Gov't insured or granted one....it will more than likely happen. Computer systems screw up and miss.....sometimes.
Please be specific on what type of collateral is being reposesed? car? house? equipment? ussualy if you miss 4 monthly payments it will be reposesed. But you can work it out with your lender.
Creditors usually don't file garnishment unless you miss payments. If you make payments on time there's no reason to file. They have to have a reason before the garnishment can happen.
Fore-closer is when you miss a year or more of mortgage payments in a row and the bank will send you papers. if you don't make a payment after the letters, you loose your home. (would not want that to happen to me)
Miss Gulch.
They stop collecting
miss a couple of car payments and you will find out!
They can for the most part legally repossess the car when you miss 1 payment. This is all spelled out in the contract you signed. In reality they will, more than likely, not start repossession proceedings if you miss 1 payment. Miss 2 payments and they for sure will. If you are having problems making the payments do not just ignore this. Contact the lender and work something out. The last thing you want to happen is get the car repossessed and ruin your credit for 7 years.
Just make a payment. The missed payments will show on your credit report but that's not really bad if you don't miss any future payments.
Not sure the case in Oregon, but usually after 3 missed payments, the foreclosure proceedings start.
Miss Emily's taxes were remitted by her accountant or financial advisor who handled her tax filing and payments on her behalf.
Depends on the lender. Legally, one!
Miss Macao happened on 1948-07-16.