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What if your car was repossessed and the lien holder charged it off but sold the debt to someone else?
Wiki User
∙ 16y ago
You are still walking. You must pay off the new holder of the note. act wuick as they will sell it fast.
Wiki User
∙ 16y ago
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Can you be liable for someone else's credit card debt if you made their minimum payment every month out of your checking and you weren't a joint card holder?
No. Someone who pays the debt or an authorized user are not liable for the debt. Only someone named as a joint account holder can be held liable.
What can happen to your debt after your car is repossessed?
Your debt is then written off as the car covers the cost of the debt.
Who is responsible for the debt if the deceased holder had allowed someone else to use her credit card?
In most cases the card holder has the sole responsibility of the debt. Some companies may try to "bully" authorized users into paying some, if not all of the debt. The "user" of the card has no legal obligation to repay the debt/charges.
If a vehicle was charged off as bad debt is there a lien holder?
Yes...the lender did not forgive the debt. Charged off is only an accounting term for something the lender has to record on his books...basically to show the loss and non-performance of the loan. It does not change the borrowers obligation, or the lenders rights, in any way.
If you sue someone for charges they make on your credit card do they have to pay you or the company?
The person pays the card holder. The card holder is totally responsible for repayment of debt to the lending institution.
In Ohio can you be liable for someone else's credit card debt if you made their minimum payment every month out of your checking and you weren't a joint card holder?
No, it does not make the non account holder legally obligated to continue payment nor assume the debt.
Can you be held liable for a deceased credit card debt if you made the minimum monthly payment for them and were not a joint holder?
No, making a payment(s) on someone else's debt does not legally obligate the payer to continue to pay or to assume the debt as his or her own.
If you cosigned for a vehicle with your husband before you were divorced and are now divorced and the vehicle is repossessed can you be charged with grand larceny?
Typically, if you are a cosigner on a vehicle loan that gets repossessed, you are still responsible for the debt, regardless of marital status. However, being charged with grand larceny would depend on the specific circumstances and laws in your jurisdiction. It is best to consult with a legal professional for personalized advice.
If you have a card being charged off is your spouse responsible for the debt?
She is only responsible if she is an actual joint account holder. Having a second card on the account does not make her liable for the debt. The person(s) making the original contract is the one who is the sole debtor
Is an authorized credit card user responsible for credit card debt if the primary card holder declares bankruptcy?
No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).
Can a lien holder refuse release of lien if debt is paid?
If a debt has been paid off, the lien holder is required to release the lien. If the lien holder refuses, you will need to get a lawyer and take the case to court
If your truck is going to be repossessed will you have to repay the outstanding debt?
READ your contract. Likely the answer is YES.
