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What happens if you can't pay any remaining balance on a repossessed car and do not have a job?
The car will be sold at auction. Whatever it sells for at auction will be deducted from the balance remaining. The credit company may initially offer to accept a reduced amount on the balance, but, if you're unable to pay that, they will turn it over to collections for the full amount of the balance remaining.
What else can I help you with?
What happens to a duck with a broken bill?
He cant fly because his balance would be bad, they cant fly
Can a motorcycle be repossessed if you cant afford the payments?
Of course.
Can a car be repossessed if it is left behind a closed garage?
No, it cant.
How do you stop collections on a repossessed vehicle My car was repossessed in Missouri the bank sold it and now a collector wants me to pay the balance not the difference. Any advice I need help?
When your car is repo'd and it is auctioned off you are to pay only the balance of what you owe on the loan. So if you owed 10,000 and is sold for 8,000 you pay the balance of the loan whic is 2,000. If you have collections on your credit report call and have it investigated this way they cant keep renewing it for 7 years.
What can you do if the lender repossess your car and they get half of the loan and you cant pay the balance?
The lender will come after you for the remaining balance after the car is auctioned.You can either declare banckruptcy or work out a payment plan...or thelender can seek a judgment to garnish your wages.
Can car be repossessed with 2 payments left?
yep....pay it off so they cant
If you get a vehicle repossessed in Texas what happens to the trade in?
I could be wrong here, but my feeling is that it is GONE. Why, it was part of the total deal just as if you had payed that much CASH down. It will be used up in the balance owed. You cant sign a contract, drive for a while and then say "I changed my mind, lets put everything back like it was." The deal is a deal is a deal. Good Luck
What is worst that can happen if you cant pay your bank loan in Ireland?
Your home could be repossessed by the bank.
Is there a time of the day your car cant be repossessed?
No u can get ur car repossed any day and any time.
How do you re plate jewelry?
you cant you have to eat the remaining pieces
What are your options to prevent garnishment if your car has been repossessed in Oregon?
First option is work strictly for CASH. Cant garnishee what they cant see. Oregon laws are here and here
You surrender a car and cant pay what happens?
When you surrender the vehicle, it will be sold at auction. The purchase amount will be applied to the balance owed on the loan, repossession fees, interest, penalties, and transportation costs. If the purchase amount exceeds this, the remaining amount should be refunded to you. If the purchase amount is less than the owed balance, you will still have to pay what is owed. If you fail to do so, the lender may seek judgment against the amount owed. This can increase the balance owed again, due to court costs, legal fees, and collection costs.
