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It varies state to state, but usually you have a 30 day grace period; meaning you can pay one month behind at a time. After being 60 days late (2 months), they cancel your policy. In states where car insurance is obligatory, you have to pay a lapse in insurance fine, which varies state to state. In extreme cases, they will come and remove the license plate from your car.
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When does wsib stop making pension payments?
WSIB (Workplace Safety and Insurance Board) pension payments typically stop upon the death of the pension recipient or in certain cases where the recipient is no longer eligible to receive benefits. It is best to contact WSIB directly to inquire about specific circumstances that may lead to the cessation of pension payments.
What happens if you miss several payments with the collection agency?
They stop collecting
Are there any fee to cancel auto insurance in California?
Some companies may charge you for early cancellation, it's best to just stop making the payments and secure coverage for when it runs out.
If you have a 5th wheel trailer that I can no longer pay I owe more than its worth What happens if I stop making the payments?
A nice man/woman called a recovery agent will come and pick it up.
What happens in Dallas TX if you stop making your mortgage payments?
The same thing that would happen in any city in the US; the mortgage company will begin a foreclosure action to take ownership of the property.
Does a short sale happen when I stop making mortgage payments?
No. A foreclosure is what happens when you stop making mortgage payments. A short sale must be discussed and negotiated with the lender. In that case the lender agrees to accept the proceeds of a sale of the property even if they fall short of what is owed on the mortgage. They agree to forgive any remaining balance on the loan. It is a way to avoid a foreclosure. Not all lenders will agree to a short sale.
What are the consequences if a person quits making payments and the car is in your name?
If your name is the borrower name and someone else is making payments and they suddenly stop; then the car will eventually get repoed and it will show on your credit report.
Does a person get to stop making student loan payments when they turn 65?
if they have paid the loan off they do.
If i stop making payments on a camper my dad had in his name only and he died what can the finance company do to me?
Repossess it
What happens when you get call regarding repossession but no letter after making a payment?
One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.
What happens to the payments you have already made if you need cancel your policy?
Your policy contract will state what happens to your payments if you cancel. In the worst case you may not be able to cancel in the best case you will have to pay pro- rata for the length of time you policy has run + a cancellation fee + an administration fee. Please understand in many cases the payments are to a finance company (who payed the upfront insurance premium to the insurer) and in this case the payments are NOT linked to the policy - you can't just stop paying - in effect you took out a loan.
What if you stop making payments and leave the state?
If you stop making payments, the loan is in default. Loans in default get repoed. Loans in default that are out of state get repoed. Cars dont fall off the face of the earth. You will not get arrested by the police or stopped by the police.THis is a civil matter not a criminal one.
