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When you give a car back to the bank will you still be held responsible for the balance of the loan?
Wiki User
∙ 16y ago
Yes.
Wiki User
∙ 16y ago
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Who is responsible for confirmping your bank account balance?
who is responsible for confirming your bank account balance
If you give your manufactured home back to the bank are you still responsible for the payments?
You may be responsible for the difference in what you owe on the home and what the bank is able to sell it for. You are not still responsible for the payments.
Who is responsible for confirming your bank account balance?
you
Once the bank sells the car you are responsible for the balance due can the bank put a lien on your home if you don't pay that back?
ONLY after getting a judgment for the balance due can the lender persue any other legal options.
What happens to my credit if I voluntarily give my car back to the bank?
Even if surrendering a vehicle is voluntary, you will still be responsible for the amount owed on the loan after the sale of the vehicle. Most lenders report to the credit bureaus and any unpaid balance will be reported, as will payments made or missed on this balance.
In chapter 7 bankruptcy after surrendering your car are you still responsible for the remaining balance after the bank sells the car?
No. The balance is an unsecured debt and is discharged. Sometimes people do not do the paperwork correctly, which can cause problems.
What happens to your credit when you give a car back to the bank?
You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.
Who is responsible for debt if a bank cancels a credit card?
The person who carried the card is still responsible for the debt.
What if you have a negative balance in your bank account for 6 months?
If you have a negative bank balance for six months, the bank is likely to charge you fees and ask you to pay them what you owe. Once the account is back to zero, the bank will likely close that account.
If the bank owns your home due to foreclosure do you still have to mow grass?
No the bank pays the property tax and maintains the property. You are still responsible for the mortgage
What is bank balance versus cash balance?
bank balance:- A bank balance is that amount which is actually deposited in any of the bank. or the amount which has been credited in your bank account. cash balance: - It is an amount which is there in your hand. i.e., it is otherwise called as cash in hand. or else we can say that the hot cash which is there with you right now is called as a cash balance. conclusion:- bank balance is the amount deposited in bank. and cash balance is the cash in hand.
Is cash in the bank debit or credit?
Cash you have deposited into a bank is credit Money to be paid back later is debit
