0
Your auto loan was 70 days delinquent and rolled over that way for a year as you continued to make payments. The creditor charged it off without contacting you as you paid off the loan. Legal?
Wiki User
∙ 18y ago
Possibly, if the loan was not reaffirmed with the lender. The lender usually reserves the right to charge off the loan if it has been defaulted either in entirety or partially for 180 days. The exception would be if the borrower has proof of a material breach of contract.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
How can you remove a late fee from your credit report if you are caught up with your payments?
Your creditor and the credit bureau are the only ones that can remove late payments. Try contacting your creditor and see if they will do it under goodwill, they sometimes will. You can also dispute it to the credit bureaus and see if they will remove it that way.
What is the name for payments that were unpaid?
Delinquent.
What does becoming bankrupt prevent you from doing?
Declaring bankruptcy prevents you from using credit cards, obtaining credit over $500 without contacting the creditor, and making payments directly to your creditor. Declaring bankruptcy is a very serious matter and is one you shouldn't choose to do without a lot of consultation on your financial providers part.
How can a Delinquent timeshare be reported as a foreclosure?
A timeshare is a similar contract to a house and requires regular payments. This can be reported as a foreclosure if you have abandoned payments and the company is taking back their property.
What will happen if you close a credit card that has an outstanding balance?
You can close a credit card account at any time, regardles of whether there's a balance left on the account. If it's not past due, you simply make regular monthly payments. If it's delinquent and the creditor hasn't already closed the account for you, you'll probably also make monthly payments on the balance. In some cases of severely delinquent accounts, you can agree to pay one final lump sum, usually less than the total amount owed. However, this will appear unfavorably on your credit reports, as will "account closed by credit grantor". Regardless, it's probably a good idea to close the account, particularly if it's delinquent.
How can you remove a late fee from your credit report if you are caught up with your payments?
Your creditor and the credit bureau are the only ones that can remove late payments. Try contacting your creditor and see if they will do it under goodwill, they sometimes will. You can also dispute it to the credit bureaus and see if they will remove it that way.
What is the name for payments that were unpaid?
Delinquent.
When filing for bankruptcy and including the car how long is it before the creditor collects the car and how does that work?
The loan company can repossess any car that the payments are delinquent on. Your BK does not prevent repossession of your car.
Can a vehicle be taken by police for delinquent payment?
Can a vehicle be taken by the police for delinquent payments.
Use delinquent in a sentence?
He was arrested for being delinquent on his loan payments.
Can you refinance a house that has delinquent payments?
It is possible to refinance out of loan in which you have made delinquent payments. Only the most experienced Mortgage consultants would be able to lead you through the process.
If you fell behind on an auto loan but continued to make payments on time for a year can the creditor charge off the balance without contacting you?
Yes, even if only one payment is missed the lending agreement is in default. A lender can charge off the account, repossess the vehicle and/or take other actions provided under the state laws.
Can a lien take your child support?
No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.No. A judgment creditor cannot take possession of child support payments to satisfy a lien.
Can a creditor repossess property if you are making payments?
no they cannot
Can you make payments to a creditor who froze your bank account?
Payments can be made from out of the frozen accounts simply by authorizing the bank to transfer the money in the frozen account directly to the creditor.
If a creditor does not report the date an accounts payments became delinquent when does the 7 year SOL begin?
In most cases the SOL begins 180 days after the date of the last activity (DLA) of the account. DLA means the default date or last payment date.
What does becoming bankrupt prevent you from doing?
Declaring bankruptcy prevents you from using credit cards, obtaining credit over $500 without contacting the creditor, and making payments directly to your creditor. Declaring bankruptcy is a very serious matter and is one you shouldn't choose to do without a lot of consultation on your financial providers part.
