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The one who BORROWED the money and/or the on who COSIGNED the loan.

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โˆ™ 2005-07-27 23:26:49
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Loans

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What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

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Q: Who pays the loan if a car is repossessed?
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Related questions

If you are the primary on the car note for an auto loan you got with someone else who pays when the car is repossessed?

As the primary, you are the first one they go after.


Who pays for a loan on a car if both husband and wife dies?

If the heirs at law want to keep the car, they must pay off the loan. Otherwise, the car would be repossessed by the lender.


Can they repossess your new car if you have the car in your name but your fiance is the primary driver and pays for it and you drive it sometimes if he is on the insurance and has a valid license?

If the loan or lease is in default, the car can be repossessed, regardless of who has it or drives it.


Can your car be repossessed on a title loan after gone into collections?

Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.


Can you get sued for the balance of your car loan after the car is repossessed and sold?

Yes.


Does a person who shares the title on a car but who is not on the loan have any legal responsibilities if the car is repossessed?

NONE on the loan.


If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?

Most likely not depending on what financial situation you're in.


Can a cosigner have a car repossessed if the loan has been in arrears?

yes


Can a car be repossessed in California without a lien being placed on the title?

IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.


How long does one have to be delinquent on a loan before a car is repossessed?

To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements.


Can the loan co. who repossessed car tack on interest after car is sold at auction?

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Can a car be repossessed if there is a lien holder on title but there is no actual loan?

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