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If your insurance got cancelled and you were in a wreck can you just let the bank repossess the car and let that be the end of it?
Wiki User
∙ 8y ago
Yes, you can let them repo the car. NO, that wont be the end of it. YES. they have other legal options.
Wiki User
∙ 8y ago
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What if you wreck a car without insurance and owe the bank payments?
Then you still owe the bank.
What happens if you have a wreck without auto insurance and still money to the bank?
You'll be ticketed for driving with an invalid registration and driving without insurance, and you still owe that money to the bank.
What if i wreck my vehicle and it's not paid for?
Drivers are required to have insurance. If you wreck your vehicle, the insurance company will pay for it. If you are driving without insurance in a vehicle that is not paid for, you still are obligated to repay the money you borrowed to buy the car. It is not the bank's fault that you wrecked the vehicle.
Your home insurance was not paid by the mortgage bank last month The insurance policy has been cancelled Does the bank have to insure you now?
The bank must make payments of these items from the account on time, if you kept an escrow account with the bank and carried out regular deposits for the taxes and insurance payment. If the bank does not pay the insurance premium on time and the insurance policy is cancelled, the bank must either get in touch with the insurance company and make them reinstate the policy, or buy a policy with another company. Nevertheless, within this time you keep being liable for continuing the insurance payment through your escrow account.
If you have two car loans at one bank can the bank repossess both even?
Yes they can repossess everything that you got a loan for.
When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
Can the bank holding the lien on a car find out if you have only liability and can they repossess if they require full coverage?
Absolutely! The insurance company should be sending the lien holder a copy of your policy and if you are not providing full coverage they will either repossess the car or purchase Lender's Single Interest Insurance (very expensive policies) and add the premium to your loan.
How do you cancel physicians mutual dental insurance?
Please cancel my policy No,H500806042. I have cancelled the automatic payments through my bank. Joanne Brink
If the car insurance is cancelled on the loaned vehicle can the bank repo the car when all payments have been on time?
Wayne, Personally as a Repoman, I see 4-5 orders a month to pick up a vehicle that the bank has no proof of insurance on. I believe there is something in a car buying agreement that requires you to carry the insurance.
Can a bank repossess a car who's registration is past due?
no
Can a bank repossess my car if I am making some sort of payment?
If you aren't paying in full they can repossess the car. To a bank " some sort of a payment " doesn't count. Call them and make arrangements.
When can a bank repossess someones car?
When the owner defaults on the loan payments
