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When a car gets repoed and sold at an auction for less than its value can the leading company put a lien on your credit report for the balance?
Wiki User
∙ 19y ago
The lender will get a JUDGEMENT for the balance due and put THAT on your CR. And then use their OTHER legal options.
Wiki User
∙ 19y ago
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What happens if you can't pay any remaining balance on a repossessed car and do not have a job?
The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
Is accounts payable a debit or credit?
Accounts Payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
Reginald's credit card statement states that his balance is 550 What does the term balance mean?
The 'balance' of his statement is the monetary value of his account with the credit card company. In this case it is the amount he owes the company.
When will the cash book have credit balance?
When company spend more cash then it actually has will cause credit balance of cash book.
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
Can you call your credit card company and pay off the balance by giving them the number for another credit card and charging the balance onto that card?
No, they have to offer you the balance transfer.
What company currently offers low interest balance transfer of other credit cards?
Discover is one company that offers low interest balance transfer of other credit cards. One can compare interest balance rates online at websites such as Nerd Wallet and Credit Cards.
Does dividends payable have a normal balance of a credit?
Yes divident payable has credit as a normal balance because it is the liability of company to pay to it's shareholders.
Can a credit card company reduce your credit limit as you bring your balance down?
Yes. All of the credit cards are reducing credit and it doesn't seem to have any thing to do with the balance. They are just protecting themselves.
What is done with the finance charge assessed by a credit company?
added to the balance
