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What will a lender do if someone takes their car overseas and then stops making payments?
Wiki User
∙ 12y ago
The lender will have the right to pursue a civil judgment in court for the outstanding debt. If not paid, wages can be garnished or a warrant for arrest can be issued.
Wiki User
∙ 12y ago
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Does a co buyer have rights to the auto loan payments?
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
Can someone still cosign for you if they are already financing on their own?
That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.
Can a lender take legal action against the homeowner?
It's called repossession. The lender owns the property, the homeowner is making payments.
Can lender foreclose if home value decreases and you re making your payments?
No. A lender can foreclose only if you default on your mortgage payments. There are probably tens of thousands of homeowners who are making their mortgage payments on time even though their property has decreased in value. If there is no default there can be no foreclosure. I respectfully disagree. Okay it must be noted that we do not know the details in the lender's agreement with the signatory. Therefore it is possible for a lender to initiate foreclose based on something within the agreement something in the contract that has been violated. A foreclosure can in theory occur if you are making your payments because often times that is not the sole condition in the lender's agreement.
Can a lender help avoid you having to pay for a car you cannot afford?
When you bought the car, the lender paid the dealer for the car, and you are making payments to the lender, plus interest. The lender will not help you avoid paying him.
What to do if one owner is not making house payment?
The mortgage payments must be made or the lender will foreclose the mortgage.
How can you lower the principal owed on your mortgage?
You can reduce the principal by making extra payments toward the principal each payment cycle. Ask your lender how best to do it and make certain the amount is deducted from the principal.You can reduce the principal by making extra payments toward the principal each payment cycle. Ask your lender how best to do it and make certain the amount is deducted from the principal.You can reduce the principal by making extra payments toward the principal each payment cycle. Ask your lender how best to do it and make certain the amount is deducted from the principal.You can reduce the principal by making extra payments toward the principal each payment cycle. Ask your lender how best to do it and make certain the amount is deducted from the principal.
Can someone lease a car and someone else make the payments?
Yes, all the bank cares about is that someone is making the payments.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
How do you go about getting a car back that you cosigned for if the other person is not making payments?
CALL THE LENDER. They can advise you and work with you.
How often will a lender of a car loan check your credit report if all payments are made on each month?
While you are meeting the terms of the loan contract and making all the payments required on time, the lender will not see that there is any problem with your loan.
How do you take a name off car loan when the other signer is in prison?
You can't get your name off a car loan. In fact, if the primary borrower isn't making the payments the lender will go after you for payment. That was the reason the lender required a co-signer. You promised to pay if they didn't and you signed the loan.You can't get your name off a car loan. In fact, if the primary borrower isn't making the payments the lender will go after you for payment. That was the reason the lender required a co-signer. You promised to pay if they didn't and you signed the loan.You can't get your name off a car loan. In fact, if the primary borrower isn't making the payments the lender will go after you for payment. That was the reason the lender required a co-signer. You promised to pay if they didn't and you signed the loan.You can't get your name off a car loan. In fact, if the primary borrower isn't making the payments the lender will go after you for payment. That was the reason the lender required a co-signer. You promised to pay if they didn't and you signed the loan.
