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If a contract was signed, then they have the legal right to come after you for any deficiency after they resell the vehicle, any monies from that sale will be then be applied to your balance you may have, what ever is left over is the deficiency. They may choose to place it with a collection agency who may then report the account with the CRA's.
What else can I help you with?
Can a credit card company suzuki reposses a motorcycle if the title has no liens?
If you bought the bike on credit and miss the payments, they can and will repossess the bike and sell it at auction. Just like a car.
What are consumer credit checks used for?
Consumer credit checks are used when a person is applying for a product in store. These usually consist of low level credit checks to ensure a person is eligible for their product, and weekly or monthly payments.
How can you get an auto loan if you have bad credit?
The easiest way to get an auto loan with bad credit is to look for car dealerships that specialize in bad credit financing. These dealerships work with banks that are prepared to help poor credit. Usually, these banks are more flexible with down payments and other requirements.
If you do a voluntary repo and get another dealerships car will that hurt your credit as bad as not making any payments for a repossession?
A repo is a repo is a repo.
What are methods of payments?
Methods of payment are the different ways people can pay for things. Such as paper money, credit card, and checks.
Are there any bad credit no credit car dealerships in the area?
Yes, there are car dealerships in the area that specialize in working with individuals who have bad credit or no credit.
Do dealerships have to run your credit if you pay cash for a vehicle?
No, dealerships do not have to run your credit if you pay cash for a vehicle.
If you are a cosigner on a car loan and the bank reposses how long is your credit affected?
Seven years.
How will it affect your credit score if lender requires you to have checking account so they can withdraw payments from each month?
Having a checking account has no effect on your credit score. Bouncing your checks has a big effect on your credit score.
What methods of payments should a new business accept?
A new business should accept cash, checks, credit and debit cards. A new business should also be able to accept credit/debit card payments over the phone as well as online.
Are there any zero credit car dealerships in the area that offer financing options for individuals with no credit history?
Yes, there are car dealerships in the area that offer financing options for individuals with no credit history, but it is uncommon to find zero credit car dealerships. These dealerships may require a down payment or a co-signer to secure financing for those with no credit history. It is recommended to research and contact local dealerships to inquire about their specific financing options for individuals with no credit history.
What dealerships specialize in working with customers with bad credit?
Some dealerships specialize in working with customers who have bad credit. These dealerships may offer special financing options or programs to help individuals with poor credit obtain a car loan.
