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Your car will likely be repossessed if you did not sign a reaffirmation agreement. If it was included in the bankruptcy, but just not reaffirmed, however, a judgment can not be placed against you for past due amounts or any balance owed. They can, though, slap you with a repossession on your credit record.

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โˆ™ 2011-09-13 12:35:35
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Q: What if someone did not reaffirm their car after they went bankrupt and missed four payments what will happen?
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Related questions

Will you lose your car if you make the payments but the loan is in someone else's name and they go bankrupt?

What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.

What if you miss your court day when filing bankrupt?

what can happen if you are filing bankrupt and you miss your court date

If you file Chapter 7 bankruptcy can you reaffirm your car loan for a lower interest rate?

That depends on the state you live in and the loan company. Talk to your lawyer about this. The bank can always agree to rewrite the loan, which is essentially what has to happen for it to be given a new interest rate. Why they would provide a bankrupt a loan, especially one at a lower rate, I don't know. Maybe they don't want the security back, and feel they would have a greater loss by doing so and in order to prevent a loss by your BK they would rather get less on the existing one. So while you may be able to reaffirm (or get someone to give or maintain your creditability) cannot just decide to change the terms to what you want and reaffirm.

You are renting a house making payments the landlord is filing bankrupt what will happen to the house?

The property may go into foreclosure, but that has nothing to do with the tenant. Until there is a foreclosue sale, the tenant is obligated to pay rent to the owner.

How do you have someone take over payments?

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In concrete terms what would happen to Iceland if the Icelandic government goes bankrupt?

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He went bankrupt, had to sell Death Row and now he's currently broke.

What happens when someone who cosigned for has filed bankruptcy?

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If i cosigned on a loan then the person goes bankrupt then they default on a bankrupt what happen?

You signed to guarantee the loan. That means that you guaranteed to pay the loan if something went wrong. Something went wrong so you get to pay the loan.

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Medicaid is a program for persons of limited income that is financed approximately 90% by the Federal government and 10% by the state. It cannot go "bankrupt." In theory, the federal government may decide to discontinue the program, but that's not going to happen.You might be thinking about Medicare, which is an insurance program for persons over 65 and theoretically could go bankrupt; however, the federal government is not going to let that happen, either.

Oil and its relevance?

As a disclaimer: the paragraph below does not answer the question (what is the question, by the way?) and is conspiratorial. --- The price of oil has been driven down by the global elite( those who control everything) in order to bankrupt the suadis. This will happen because the suadis needed 80 dollars a barrel of oil to fill their debt obligations. When the saudis go bankrupt interest payments on the US debt will stop, and the dollar will cease to be accepted as a currency, hyperinflation will result. youtube Lindsey Williams

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If the signor fails to make payments, you are responsible. By co-signing, you say that if the signor can not pay, you will would gladly make the payments.

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It depends on how overdue you are on your payments and how much money you owe.

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you will suffocate and eventually die

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The executor must make the payments from any assets of the deceased Estate until the Estate is settled.

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You will be responsible for the loan payments

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Is it fraud if someone continues to make car payments when the borrower is deceased and the loan company is not aware of his death?

Prolly is BUT it depends on the lenders attitude as to what will happen. Best thing to do is contact the lender about getting the loan in your name. lot of variables here.

What will happen if someone is to fat?

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