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The debt is transferred to your estate.
It still has to be paid, depending on the contract you signed of course, but is handled by the Executor along with any other debts you may leave.
Any creditor can make a claim on your estate but these claims may not all have the same legal standing. If there is a dispute it may need to be decided by a court of law. This should be avoided at all costs as it is expensive.
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What happens if I don't repay an auto title loan?
You will lose the car if the Auto title loan is not paid. The lapse in repayment can result in reposession of the car.
Should a married couple put both names on an auto loan?
no because if something happens then it happens to both of you.
What is auto loan death insurance and how does it work?
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
Are four wheelers under auto loan or personal loan?
Auto Loan
What happens if you were a cosigner on an auto loan but now your credit is terrible and you are in a credit consolidation program?
As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments on time.
What happens to your car loan if you die?
The estate has to resolve the loan, either through selling the car or returning it to the lender.
If you lose your drivers license what happens to your auto insurance?
you die
Do auto loan calculators accurately predict auto loan payments?
Auto loan calculators are not reliable. Although they can sometimes predict auto loan payments correctly, they are often inaccurate and can cause issues.
How would you refinance an auto loan?
You can refinance an auto loan at any place you can get an auto loan. It may be best to use an agency in which you have already gotten a loan through before.
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
What kind of loan is an auto loan?
An auto loan is a secured loan. A lien on the car helps the lessen the risk for the lender.
What are the benefits of combining an auto loan with life insurance?
Combining an auto loan with life insurance can provide financial protection for your loved ones in case of unexpected events like death or disability. If something happens to you, the life insurance can help pay off the remaining auto loan balance, relieving your family of that financial burden.
