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READ both loan contracts. IF they have a term "CROSS_COLLATERALIZATION" in them, debtor has no recourse. This can only happen if the contract has that clause in it and does happen when you have multiple loans at with one lender.

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โˆ™ 2004-09-10 14:13:27
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Q: What recourse do you have if your car is repossessed for late payments on a separate unsecured personal loan made years later by the same institution?
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Related questions

Will you pay more interest on an unsecured personal loan than a secured one?

The amount of interest you pay depends on the institution that you borrow from. You will usually pay more on an unsecured personal loan than a secured one.

Which financial companies offer unsecured personal loans?

There are many financial companies that offer unsecured personal loans. Capital one offers unsecured personal loans. Also, Bank of America offers unsecured loans.

How can a personal loan be unsecured?

There are many kinds of personal loans that can be unsecured. When a loan is unsecured it just means that it isn't as protected as a regular loan and how more red tape to cross.

Can an unsecured loan be used to buy a personal computer?

Many banks offer unsecured personal loans for people with great credit. If you need a fast personal loan check with bank of america or chase.

Can rims be removed from a repossessed car as personal belongings?


What banks offer unsecured personal loans?

Many banks offer unsecured personal loans, such as M&T, Bank of America, Chase, and others. However, the circumstances and criteria of the applicant must be right. For many considering the times, most applicants would not be eligible for an unsecured personal loan.

Can you retrieve personal belongings from a repo car?

Yes you can retrieve personal belongings from your car if it gets repossessed. By law you are allowed 7 days after your car gets repossessed to retrieve your personal belongings.

Can your utility trailer be repossessed with your equipment inside if you are current on your payments but you owe them a personal loan?

The only way that they can legally repo your trailor is if you default on that loan or if you listed the trailor as calateral for the personal loan! if you didnt put the trailor as calateral then no they cant touch it!

What are the risks of unsecured personal loans?

Unsecured personal loans can result in being robbed. You may never see your money again because a contract was not signed by both parties. Unsecured personal loans can result in being robbed. You may never see your money again because a contract was not signed by both parties.

Are you allowed to obtain your personal property from your car that was repossessed?

Yes You Are !!!!!!!!!!!!

Can they take your personal property if a used car is repossessed?


How does one obtain an unsecured personal loan?

Banks like CIBC provide unsecured personal loans for people that have a bad credit history. The main advantage of an unsecured loan is you can avoid paperwork and you get fast approvals, the only problem is you're not backed up by any security.

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