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When a motorcycle is repossessed can the credit company still come after you for the loan?
Wiki User
∙ 16y ago
Yes. If you are recieveing phone calls or lettters in the mail wait until you have saved at least 30% of the balance that is owed, and settle with this company. Make sure you get everything in writing before making this final payment. Wanda Improve Credit, LLC
Wiki User
∙ 16y ago
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If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
The bank repossessed your motorcycle what will you still have to pay?
the bank will sell the motorcycle normally at auction what ever it sells for is taken of what is owed and you pay that balance if it makes more then is owed a refund is payed
Can a company still report a repossessed car after 7 years on your credit report?
Yes ... these matters can remain on one's credit reports for up to 15 years. This is why it is so crucially important to pay every bill that is due on time, everytime.
What to do about unpaid balance on repossion of car?
Im going through the same situation. The credit company called me and said I owed a certain amount in order to get this off my credit. The problem I have is I dont have the pink slip and they think they repossessed my car when acctually I still have it.
In Virginia can a credit company repossess your car and still demand the money owed above the value of the car?
When your car is repossessed, they sell it for what they can get. Value has nothing to do with what price it brings. They simply get what they can. You are then responsible for the difference in the amount they sell the car for and the balance on the note. Your credit is then ruined for 7 years. This is why having a car repossessed is a horrible idea, and should be a last resort.
Can you be sued if you let your mobile home be repossessed?
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
If you voluntarily let your car be repossessed by the lender do you still have to pay on the loan?
Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost
What are the best ways to rebuild your credit after your car was repossessed?
Paying off what still owed on the loan is a GREAT start.
I live in new york and i have been playing the hide and seek game for 4 years and the company i owe has wrote the money off my credit will be clear in 8 months can and will they still repo the car?
As long as you have the car, it can be repossessed.
If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?
IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.
Can a motorcycle be repossessed if you haven't made payments in 6 months and then started making payments again?
Technically you breached the contract with the lender if you did not make payments in 6 months. They actually have the right to NOT accept further payments from you. So yes, it can still be repossessed.
Your vehicle was repossessed and sold at the auction after the fees you still owe 292 how will this reflect on your credit IF you pay it off?
It will show as paid or satisfied.
