Loans

If this is a Federal Student loan unfortunately, THERE IS NO STATUTE OF LIMITATIONS. If this is a PRIVATE, UNSECURED STUDENT LOAN, by LAW, this is subject to a STATUTE of LIMITATIONS.

One quick way to check what kind of loan you have is to simply contact the Dept. of Education and ask them for a full account and record of all your Federal student loans.

Depending on the competence, or honesty of the judge and lawyers involved, you should expect a reasonable resolution of the statute of limitations has passed. Sallie Mae is a dirty company and will lie about terms of your contract, date of origination and sometimes even what school the loan was for. Make sure to keep ALL your records and come prepared to court.

Call an attorney and Good luck.

Yes. Property remains subject to a mortgage until the mortgage is paid off. If a person purchases property that is subject to a mortgage that the seller granted to a bank, the new owner must pay the mortgage or the bank can foreclose.

Collateral has two meanings:

1) Secondary or associated but not the primary objective or intent. In war civilians may be killed unintentionally in combat. This is called collateral damage.

2) Something of value that is offered as assurance borrowed money will be paid back or a promised action will be carried out is called collateral. People getting a loan to buy a house put the house up as collateral so the lender can be assured he will get his money, either by payment from the borrower or by selling the house if the borrower fails to pay as agreed.

First of all it depends if your first and second are with the same lender. If it is the same lender you need to talk to them and first see if they are even willing to perform the deed in lieu, sometimes you may need to be 3 + months behind to discuss that in loss mitigation department. If they are different lenders, your probably not going to get done for various reasons. Biggest reason is there will not be enough equity to pay of the first and second, thus the lender holding the first will not want to regain the property and be responsible paying off the second to clear title. In this situation they would have to foreclosure on the property and recover more of their money because the second will not get anything or a small portion if the sale produced a price above what the balance was for the first.

Need to speak with representative

Of course, neither of you thought a written promissory note or security agreement was necessary at the time. It may not be a problem if the car can be exempted. If the car is worth more than any available exemptions, you will have to convince the trustee there was an equitable lien on the car. If you have made regular payments to your friend and have receipts showing a declining balance, it will be more likely to be seen as real. If you pay as much as you feel like paying whenever you get around to it, good luck.

YOU'RE ON THE HOOK. HOWEVER, I BELIEVE AN ARGUMENT CAN BE MADE FOR THE "LESS THAN PROMPT" NOTICE. NORMALLY YOUR STATE VEHICLE CODE WILL REQUIRE 30 DAY'S NOTICE TO ALL INTERESTED PARTIES. YOU QUALIFY AS CO-SIGNOR.

Yes they absolutely can and will! Don't be foolish. Pay up before you have added fees and charges or lose the vehicle completely.

If the primary signer defaults the co-signer will become responsible for paying the loan.

Yes. You still need to protect your investment.

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An open ended warranty would indicate that coverage for certian conditions continues in perpetuity. For example, if your automobile came with an open ended warranty, all warranty covered items, and the covered items list is very specific typically, would be covered for as long as you own the car,or, for the life of the vehicle itself. Wouldn't that be nice!

However, this is why almost everything I can think of, and I can think of a lot, comes with a "Limited Warranty."

Yes...absolutely...any loan from a bank...or anyone that declares BK is, if anything, more due! The others BK in no way changes YOUR obligation to pay...his BK may allow him to not pay some of his debts....it doesn't relieve any of yours. In fact, as your debt is now an asset of his that is going to be used/applied to his creditors to pay what he owes, the collection efforts will increase if anything...and have the backing of the US Bankruptcy Court and judges/lawyers, wanting to get the money to pay the creditors.

4.51%, annual.

No, they are not required to stop the deduction. The IRS requires you to repay your loan according to the terms you agreed to when you signed the check. Whether or not your employer will stop the repayments varies from one employer's plan to another. Some will stop them, some won't, and some require them to be stopped even if you don't want them to. Call your customer service center and ask for a summary plan description to get your plans rules in writing. I understand it as while 401k is exempt from seizure and claims, the loan against one is not. Those funds become just like any other and can be taken by creditors. Regardless of BK, the 401k loan must be repaid or the 401k itself (the security for the loan) automatically is used to do so (by the agreement)....basically aside from the BK process and required of all qualified 401k plans that do grant loans. However, when this happens the amount used to pay the loan is considered an early 401k withdrawal. It all becomes taxable income and the early withdrawal penalties apply too...so you will owe a substantial tax on that event. And of course, you'll have lost/used up your 401k for the same amount.

The lien that was recorded first would have priority.

The lien that was recorded first would have priority.

The lien that was recorded first would have priority.

The lien that was recorded first would have priority.

Park the RV in a high traffic area, with permission of the landlord, with huge signs that read: I bought this lemon at such and such dealership. They hate negative publicity and will usually do something just to avoid further negative publicity. Call the dealership and tell them you plan to leave the vehicle with the signs on it until they do something or go out of business. Try to park the thing as close to the dealership as possible so that future potential customers going to do business there will see the lemon advertisement. ANSWER lET THE BUYER BEWARE. if you bought it from another individual or used car dealer, you should have the car checked by a mechanic or take a mechanically inclined person with you. if you feel you bought a lemon, there are consumer agencies you can contact like the better business bureau, local tv stations, your local consumer affairs office or court.

The loan must either be paid off at which point the bank sends the title slip to the "owner" or the bank agrees to transfer the loan to someone else's name (the new buyer).

No, the insurance is your obligation and part of the expense of operating a vehicle. When you drive the vehicle off the lot the dealer has licensed it in your name but that only lasts for one year. You're responsible for licensing the vehicle after that, as well as fuel in the tank, oil changes, tires and other maintenance and repair.

apply through physical address

Eligibility requirements for federal student loans include you to be enrolled or enrolling into a college or other accredited higher education program, meet satisfactory academic progress, be a US citizen, have a valid social security number.

only in chapter 13, you cannot use chapter 7 to catch up on past payments.

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