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What else can I help you with?
What happens when a car is repossessed and you are the cosigner?
You will also be liable for any deficiency balance
Can your wages be garnished for a car that was repossessed?
Yes, if there was a deficiency balance owing after the car was sold at auction. Your creditor would have to sue you and obtain judgment in order to garnish your wages.
What is a deficiency judgment tied to property and how do you benefit when trying to rent an apartment?
I will answer the 1st part of the question "What is a deficiency judgment tied to property".A deficiency balance is whatever is left of a loan when the security has been sold--such as a repoed car is sold for less than the loan amount plus repo costs, storage, title & taxes, the balance remaining on the loan after applying what the car sold for is a deficit balance.A judgment was filed by the lending company to recover whatever money is still due them anda judgment automatically ties to real estate property if the borrower owns a home.
What happens if you don't pay your car loan?
The repossess the car, can get a judgment against you and your credit is badly damaged.
Approximately how long after your car is repossessed do they come after you for the deficiency?
As soon as the lender sells the car, they will know what the balance due is. Then they will come after the money. You will know when that happens.
Can a car be reposessed after judgment?
Whether or not a car can be repossessed after a judgment depends on the judgment.
What happens if you dont make any payments on your car loan?
u eventualy lose your car
What happens when returning a car to a financial institution and the car is of less value then the loan amount owed on the vehicle?
The lender will expect you to pay the deficiency which is the difference between the amount owed on the loan and the amount they get for selling the car.
What happens to people inside a car during a collision?
when your inside a car, and you dont have your seat belt on, your like a missle
What happens if you cancel car insurance and dont return tag?
Most of the time, your car may be de-registered.
After a car is repossessed what happens to the owner of the car does he have to pay it off or what happens?
The former owner of the car, now still owner of the DEBT, gets to pay the debt. The leinholder will likely get a judgment for the balance due and proceed to collect. Uless your name is 'turnip", you will pay.
What happens if you attach a garden hose to your car's exhaust pipe?
your car will not work so dont try it unless you want a not working car!!!!!!
