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Can you be arrested for not paying the deficiency owed after car repossession if you have a co-signer?
NO
Can a lender garnish wages after repossession in North Carolina?
Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.
Can you get your vehicle back after repossession?
The first step is to contact your lender. They will have those answers. It usually involves making up past payments, and paying the repossession fee, and perhaps storage.
Why is the bank reporting a car as a repossession when it was stolen and totaled and you are still paying for it?
Because the lender repossessed the car from where ever it was after being totaled.IF you had gotten the car back after it was totaled, it couldn't have been a repossession.
What will happen if you tear a structure down with a mortgage?
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
What if you win lottery and stop paying mortgage?
The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.The lender will take possession of your property by foreclosure. It will then sell the property and will pursue you in court for any deficiency and legal costs.
You kept making car payments after discharged in chapter 7 if you stop paying and don't surrender the car can the lender go and undo your bankruptcy?
No. But, the vehicle will become a repossession if payments are not made.
What causes a car repossession?
not paying your monthly bill on it
Can you modify auto loan if car is up for repossession?
It is entirely up to your lender, talk to them, most really don't want the metal (car) and would rather keep you paying even if it means modifying the loan.
How late can a vehicle payment be in Virginia before repossession?
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
What happen if you sold your car after you took the car loan?
After your vehicle is repossessed by the lender, they can put it up for sale, but, you have a time period to redeem it, paying the amount in arrears, plus collection costs.Upon repossession, you have the right to recover any personal items in the vehicle.The lender can sell on the bank lot, or at auction, and then sue you for the remainder of the loan and costs, not collected at sale. The repossession will go on your credit rating (for 7 years).Time periods for actions in a repossession vary by jurisdiction, and, as I am not a lawyer, only a repossession agent in the past, you should consult an attorney or your state Department of Motor Vehicles by phone or visit their website!
What happens if the partner on the mortgage loan moves out nd stops paying?
The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.
