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What happens if you are paying on a car loan and the car gets impounded?
Wiki User
∙ 18y ago
you continue to pay the note. just because you do not have the car available to drive at your whim doesn't allow you not to pay the note.
Wiki User
∙ 18y ago
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What happens if collateral used for loan is sold before the loan is repaid?
You are still responsible for paying the loan as before.
What happens if you stop paying your car loan?
Repo.......homo
What happens when you are a co-owner of a vehicle that was used as collateral for a loan by one of the parties and also had a co-signer?
""co-owner of a vehicle"" means you are listed on the TITLE and just that. ""collateral for a loan by one of the parties and also had a co-signer"" IF you are not on the loan, then you are not responsible for paying it. The signor and co-signor will have to pay the loan. However, IF you want/need the car, you may wind up paying the loan just to get the car. Otherwise, you lost your car if it gets repoed.
How can you define loan recovery?
Loan recovery is when a loan or debt is recovered either in part or in full. This happens after the loan has been classified as bad debt, meaning the borrower will not be paying it back.
What happens when a co signer dies and you stop paying on car loan?
bank takes back
What happens when you stop paying on a vacation points loan?
Forclosure.
What happens if you stop paying your car loan?
Repo.......homo
What happens if collateral used for loan is sold before the loan is repaid?
You are still responsible for paying the loan as before.
What happens if up you stop paying your car loan and move to a different state?
It is a felony if you take the car across state lines and you are no longer paying on your loan.
What happens if a co signer on a car loan passes away?
The surviving borrower is solely responsible for paying the loan.The surviving borrower is solely responsible for paying the loan.The surviving borrower is solely responsible for paying the loan.The surviving borrower is solely responsible for paying the loan.
In California how long can a car be impounded for if you loan it to someone who does not have a license?
forever
What happens when you are a co-owner of a vehicle that was used as collateral for a loan by one of the parties and also had a co-signer?
""co-owner of a vehicle"" means you are listed on the TITLE and just that. ""collateral for a loan by one of the parties and also had a co-signer"" IF you are not on the loan, then you are not responsible for paying it. The signor and co-signor will have to pay the loan. However, IF you want/need the car, you may wind up paying the loan just to get the car. Otherwise, you lost your car if it gets repoed.
How can you define loan recovery?
Loan recovery is when a loan or debt is recovered either in part or in full. This happens after the loan has been classified as bad debt, meaning the borrower will not be paying it back.
What happens if you have personal loan in Dubai and left the country without paying?
you get a pole up your jacksie
What happens when a co signer dies and you stop paying on car loan?
bank takes back
What happens when your loan is not paid off and you still have the car?
You can still have it ,but you will be paying heavily for it and have no resale value for it.
How long can a car be impounded for if you loan it to someone who does not have a license?
Depends on where it happens. In California, the vehicle can be forfeited (as in taken forever) if the person driving it has a prior for driving without a license.
