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What happens if you have a clean title and loan is secured can finance company still repossess?
Wiki User
∙ 11y ago
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∙ 11y ago
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Can a loan company apply for an order to repossess property it is not secured on?
No they can not, it does have to be a secured ( that's the key word ) debt
What can a creditor do if you stop payments on a secured loan that was not reaffirmed?
Repossess or foreclose on the secured property if the agreement is in default.
Where can one find secured loans in the UK?
Sources for secured loans in the UK are varied and not hard to find. Nemo Personal FInance, Prestige Finance, and Shawbrook Bank are the top three institutions for secured loans. Many other smaller personal finance companies offer secured loans as well.
What kinds of financial services does American General Finance offer?
Basically, American General Finance offers loans to consumser, both secured and unsecured. However, beware the company has many complaints against it. It is now know as Springleaf Financial Services.
What happens when the joint owner sends someone to repossess your car?
The car is secured by the repossession agent, taken to a storage lot, and transported to an auction where it will be sold. Sometimes, in such cases, the party that give the location of the vehicle is paid a small finders fee.
What does the concept of secured debt mean in finance?
Secured debt is a debt that is guaranteed by the use of collateral. If the debt is not repaid, the creditor has the right to take the collateral from the borrower.
What are 3 types of finance?
payable. recievable, cancellation
When husband dies without a will and his name only is on mortgage although couple has Joint Tenancy with Rights of Survivorship how should wife proceed regarding mortgage?
She should pay the loan, if that's what you're asking, or re-finance in her own name. Otherwise, the lender will foreclose and take the house, regardless of who happens to own it. Just because you give away your ownership of a property with a secured interest, it doesn't effect the right of the lender to repossess the property or its value.
Your husband and you are separated and he has a personal loan in his name alone that is secured by your jointly owned appliances and furniture Can lenders repossess jointly owned items if he defaults?
Yes.
Can you cancel financing car after you purchase it?
You cannot. You could get alternative financing from another finance company and they buy out the original and everything transfers to them. When you signed the paperwork for the car, you promised to make payments and you are legally bound to do so. If you dont then the loan is secured by the car and the finance company comes and takes the car. IF you dont make arrangements to pay for what is owed, then the company sells the car for a huge loss, but they come back after you for the difference.
Is a car dealership a secured creditor?
No, unless that dealership is of the buy and driver variety. Dealerships are that, a dealer in vehicles. Dealerships do not typically provide financing; this is typically the venue of the finance company. In the event the dealership is a buy and drive, then yes, they are a secured creditor. That is, of course, they are lax enough to not actually secure the vehicle they sold in the loan contract.
What happens when a crime scene is not secured?
When a crime scene isn't secured, the evidence might be lost and the investigation would be compromised.
