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If the trust took out the auto loan the answer is yes.
Usually an individual or a company takes out a loan If an individual took out the loan , and died without satisfying the loanthen the loan company would have a claim against the vehicle , and if theindividual passed away their estate would be liable to satisfy the loan unless there was life insurance on the loan . If there is nothing in the estate and the vehicle isn't worth much - let them come get the car - they would not have aclaim against the trust because the trust did not borrow the money for the car the individual did .
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∙ 12y ago
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If you cosigned an auto loan for your niece and she has defaulted can you repossess the car from her?
yes you may take the car back considering she defaulted on a aggrement between the 2 of you and the bank you are liable for any unpaid debts on the car therefor the car is yours as well....
What happens if mortgage loan holder files for bankruptcy when the title has other people also?
If there are 2 people on the deed of trust and only one on the loan - then the person who has defaulted on the loan will have their credit negatively affected. The one who is only on the deed of trust will lose ownership to the bank or mortgage company, however, their credit will not be affected unless they co-signed or guaranteed the original loan that has defaulted.
In MI can a parent be liable for a joint car loan account defaulted by their child if the parent knew nothing of the account and never signed an agreement or made a purchase?
No
Can disabled people be made to repay defaulted auto loans or leases or voluntary surrender of a auto?
Disability does not negate the responsibility to pay for a loan. A defaulted loan can damage your credit and yes, the creditor still expects the money. Sometimes an attorney or Consumer Credit Counselor can help smooth the way when dealing with a creditor.
Defaulted auto loan and finance company does not want vehicle back how do you get the title?
If you have defaulted on the loan, you must sell the vehicle, pay off the loan you have, receive a lien release on title from the loan company and sign it ovet to the buyer. This is bad situation as most people will not pay for a vehicle with out receiving the title at the time of purchase.
What is the benefit of getting defaulted loan off of credit report versus paying off defaulted loan?
ask an asian.
What kind of Auto loans are considered high risk?
High risk auto loans could refer to the driver signing for the loan or the type of vehicle that is being purchased with the loan. If an individual has defaulted on a previous loan they may need to have a co-signer guarantee payment.
Can a cosigner on your college loan sue you?
Yes, if you defaulted on the loan.
If someone cosigned for a auto loan and you defaulted can they all of a sudden place a lien on your house right before you sale it in 3 weeks?
yes they can do it
Can you sue the borrower if they defaulted on loan if im the cosignor?
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
What is a sentence with the word defaulted?
If you have defaulted on a loan in the past, your request for a second one may be denied.
Can you default on an auto loan if there is a cosigner and you are the primary?
Well, you CAN default but the co-signer would then be completely responsible for paying the loan that you defaulted on. The co-signers credit will be impacted by your default and all subsequent collections.
