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What happens when you default on your loan and the insurance company pays out on your loan?
Wiki User
∙ 16y ago
In most places the money goes to the BANK! Their name is on the title of the vehicle until you make all your payments and they sign a "release of lein".
Wiki User
∙ 16y ago
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What happens if you default on a payday loan in Georgia?
Payday loans are considered illegal in the state of Georgia. However, if you default on a payday loan, the company can sue you in court. The judge will decide how a judgment will be carried out if the loan was given in Georgia illegally.
What happens if you do not pay your check n go installment loan?
The loan will be a default loan
What happens when you pay off an auto loan?
the bank cant come and steal it. but the insurance company can if you dont pay that
Are you still covered by gap insurance if my loan is in default?
In many cases you would still be covered, but not usually for the amount by which your loan is in default and not for any additional charges and interest applicable to that default amount.
What happens if a loan is sold with recourse and it goes into default?
what haapend if a loan is sold with recourse and it goes into defualt
What happens if you Car title loan in default and car is totaled?
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
What happens if you default on a payday loan in Georgia?
Payday loans are considered illegal in the state of Georgia. However, if you default on a payday loan, the company can sue you in court. The judge will decide how a judgment will be carried out if the loan was given in Georgia illegally.
Will private mortgage insurance pay your loan if you default?
no
What happens if you do not pay your check n go installment loan?
The loan will be a default loan
Can a bank or loan company repossess a vehicle if you are not 30 days late on the loan?
The simple answer is yes. However you should read thru your contract to see if you are in default, that would trigger a repossession. For example, one way to be in default is if your insurance got cancled.
Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
What happens if a loan is in default and is deceased but has a co signer?
The cosigner now owes for the loan.
How do you prevent a home mortgage loan company from securitizing your loan?
You can not prevent home mortgage loan company from securitizing you loan. The only way out is do not default your repayment.
What happens when you pay off an auto loan?
the bank cant come and steal it. but the insurance company can if you dont pay that
Are you still covered by gap insurance if my loan is in default?
In many cases you would still be covered, but not usually for the amount by which your loan is in default and not for any additional charges and interest applicable to that default amount.
What happens if you default on a loan used to purchase a lot?
If you default on a loan used to purchase a piece of property you usually lose the property through foreclosure.
What happens if a loan is sold with recourse and it goes into default?
what haapend if a loan is sold with recourse and it goes into defualt
