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An amortization schedule for a loan is basically the date that you have to place the payment of a repayment of your loan. If you miss this schedule, then fees might apply.
Fore-closer is when you miss a year or more of mortgage payments in a row and the bank will send you papers. if you don't make a payment after the letters, you loose your home. (would not want that to happen to me)
no
Creditors usually don't file garnishment unless you miss payments. If you make payments on time there's no reason to file. They have to have a reason before the garnishment can happen.
Before taking out a personal loan, borrowers should ask questions such as: What is the interest rate? What are the fees associated with the loan? What is the repayment term? What happens if I miss a payment? Is there a prepayment penalty? How will this loan impact my credit score?
That normally doesn't happen
An amortization schedule for a loan is basically the date that you have to place the payment of a repayment of your loan. If you miss this schedule, then fees might apply.
In general, payments to the bankruptcy court, including filing fees and other required payments, must be made on time to comply with court deadlines. If you miss a payment, it’s important to communicate with the court as soon as possible to explain the situation and seek guidance. The court may allow a grace period or provide options, but this is not guaranteed. Always consult with a bankruptcy attorney for specific advice regarding your case.
If you are purchasing an automobile can the dealership file a warrant for your arrest if you miss a payment?
Fore-closer is when you miss a year or more of mortgage payments in a row and the bank will send you papers. if you don't make a payment after the letters, you loose your home. (would not want that to happen to me)
no
Depends on the contract you signed when you borrowed the money. With most lenders they can reposes their car if you miss one payment.
They charge you a late fee, it goes on your credit report and you could get a phone call from the loan company.
You will probably receive one more chance. You need to have your lawyer contact the bankruptcy trustee and see if it can be rescheduled.
They can for the most part legally repossess the car when you miss 1 payment. This is all spelled out in the contract you signed. In reality they will, more than likely, not start repossession proceedings if you miss 1 payment. Miss 2 payments and they for sure will. If you are having problems making the payments do not just ignore this. Contact the lender and work something out. The last thing you want to happen is get the car repossessed and ruin your credit for 7 years.
Creditors usually don't file garnishment unless you miss payments. If you make payments on time there's no reason to file. They have to have a reason before the garnishment can happen.
Before taking out a personal loan, borrowers should ask questions such as: What is the interest rate? What are the fees associated with the loan? What is the repayment term? What happens if I miss a payment? Is there a prepayment penalty? How will this loan impact my credit score?