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So here is an example of what can happen when a creditor repossess an item. "If an item such as a car or furniture is repossessed, the creditor can then sell it. The money from selling the item is applied toward the money you owe. The creditor can still try to get any money you owe after the sale of the item. The terms of your contract might even add charges for the costs of repossession and sale."
What else can I help you with?
What is the current status of the class action lawsuit against Tylenol?
As of now, the class action lawsuit against Tylenol is ongoing, with legal proceedings still in progress.
Can your vehicle be repossessed after the loan and security agreement has expired but you still owe a considerable sum?
Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.
Do you still have to pay on a loan after your car is repossessed?
Yes, provided there is still an outstanding balance after the repossession and resale are completed. This is the case in most situations, due to the added cost of repossession, storage, and transport of the vehicle that will be assessed to you. If it remains unpaid, the lender may (likely will) file legal actions against you to recover the balance.
Why do statutes of limitations exist and what purpose do they serve in the legal system?
Statutes of limitations exist to set a time limit for bringing legal action against someone. They serve to promote fairness and efficiency in the legal system by ensuring that cases are resolved in a timely manner and that evidence and witnesses are still available.
In Florida when a car is repossessed do you still have to pay for it?
The vehicle will be sold. That amount will be applied to your balance. You will be responsible for the remainder owed along with any fees associated with the legal aspects etc
Can your car get repossessed after bankruptcy?
not if you still owe money on it
If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?
Most likely not depending on what financial situation you're in.
Can you still owe money on a car that was repossessed and resold to another buyer?
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
Are you still liable for the payments if your truck is repossessed in Alberta?
Yes you are
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Is it legal for the car to be repossessed and still require payments to be made?
Generally, if the car was sold for less than the amount owed on the loan the lender may demand that you pay the remaining balance owed.
What is the current status of the Monsanto lawsuit against farmers and how is it impacting the agricultural industry?
The Monsanto lawsuit against farmers is ongoing, with various legal battles still in progress. The impact on the agricultural industry is significant, as it raises concerns about intellectual property rights, seed patents, and the potential for legal action against farmers for unintentional seed contamination. This has led to debates about the control of seed technology and the rights of farmers in the industry.
