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If you can't pay off a car and the bank repo's it do they come after you for the money or just take the car?
Wiki User
∙ 14y ago
Depending on your income situation and asset situation, then they may attempt to recover ALL remaining monies owed. If they see they cannot get money from a stone and you have NOTHING to sell to make good, then they often count their losses and just take the car, damage credit, and have a collection company harrass you. If you have home and/or assets or other cars, they will seek the payment for remaining owed money.
Wiki User
∙ 14y ago
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What are repos?
Repo is short for repurchase agreement. Those who deal in government securities use repos as a form of overnight borrowing.Short for "repossession". In the case of the show "Operation Repo" they receive notices that someone has fallen behind on car payments and come tow the car until the owner can arrange with the bank to pay them.
Is there any reason that the bank that is trying to repossess your car would contact a car auction to come to your place of residence?
Car auctions SELL repos for lenders and also pick them up from debtors. Is there any reason for a bank to "TRY" to repo a car??
When you borrow money from a bank where does that money come from?
When you borrow money from a bank they pull cash from the bank's reserves. This collection of cash is the net cash reserves within the bank or its network from depositors in the system.
Will Jericho come back in money in the bank 2011?
He may not...
Where from the money sources come to hdfc bank in India?
guntur
How come Animals are not able to make sugar?
they cant because they dont have money
What does conclusion meam?
When you come to end of something and begin to devise a summary.Here is an example: "John stole money from the bank and demanded it to be put into his bank account." - From this the police and the bank can come to a conclusion that John stole this if the money transfer was recorded and funds present is in his account.
Does every bank account have overdraft?
No they have to have a linked funding source for the money to come from
When you spend money on a debit card does the money come right out of your bank account?
Yes, but not necessarily right away.
What happens when you pay off an auto loan?
the bank cant come and steal it. but the insurance company can if you dont pay that
Can the bank come after me for money after a foreclosure?
Yes. If, the amount they auction the property for is less than what you owe they will come after you for the difference.
Why will you never ever come to south Africa?
i cant spend money to watch zebras, and elephants..
