If my co-signer for a car loan dies. Do I still have to pay for it?
Not everyone can qualify as a co-signer for a single car loan, let alone multiple loans.However, every loan you co-sign will show up as a liability on your credit report.To co-sign a second or a third loan, you could need to prove your income is sufficient to cover all the loans if the borrower d...
Is the co signer resposible for a loan if they did'nt know they were being held responsible for the loan?
To be a cosigner on a loan you would have had to sign the papers regarding the loan in which if you don't know then you obviously didn't sign them and are a victim of fraud.
Theoretically yes (though what the car is resold for is applied to the balance of the debt as a credit). However, lenders know their chances of getting that money are slim to none, because if you'd had the money you would have been making the car payments in the first place. So they tend to try t...
The vehicle will be sold at auction, the proceeds will be applied to the loan and to the repo fees, then you will still be responsible for any remaining amount owed to the loan.
Because the cosigner guaranteed the to pay the loan if you do not. You fail to make a payment and the lender will be looking at the cosigner for the payment. You not only have an obligation to the lender who lent you the money but to the cosigner who also signed his name to the loan agreement.
If took out a car loan for someone. They could not co-sign dut to bad credit. Can I sue if they stop paying me back?
No, by signing the contract as a co-signer you automatically accept the responsibility if the signer is not paying you will be financially responsible for the loan. There is no legal action you can take against the signer. For more information you can visit http://www.autocreditfinancial.ca IN so...
The vehicle can be repossessed.
If the heirs at law want to keep the car, they must pay off the loan. Otherwise, the car would be repossessed by the lender.
As the vehicle owner, you can sell the car whenever you choose. You are liable for the car loan. If you are selling the vehicle for less than the loan (especially when you are upside-down on the loan - you owe more than the car is worth), you need to pay the difference to your lender.When trading...
When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.
Here are some of them: Refinance the loan. Refinancing the loan means that you will be taking out new financing in your own name without the co-buyer. Sell the vehicle. More often than not, the easiest way to get out of a joint auto debt is to simply sell the vehicle. Modify the loan. Sett...
Should be able to if you have a good credit report as you are an adult. However, if you do not have or have not ever had credit, then you well may need a co-signer. I would talk to your bank about obtaining a very low, modest sum of money as a loan just to establish a credit history. Pay it back ...
You don't have to pay for the CARFAX at your local dealer. If you are buying a car I would ask the dealer to run the carfax for you - they often have memberships and can run as many reports as they like for no additional cost.
Its a binding contract and after enough finance charges and slams to your credit Im pretty sure they would repo it? So I would say yes, considering you signed up to make payments on it they expect it and the Bank/Loan Agency Expects their money back in anyway
However, some states—roughly a third—still use jail as a method to coerce debtors to pay certain debts.Today, you cannot go to prison for failing to pay for a “civil debt” like a credit card, loan, or hospital bill.You can, however, be forced to go to jail if you don't pay your taxes or child sup...
Yes. Hopefully the car is insured, and the insurance money recieved will cover the loan of the car.
The bank will sell yours at auction. Whatever they do not recoup, you owe the difference.
Yes, you - or your insurance company - will be responsible for the tow and storage fees.Many police agencies will waive their processing and release fee, but tow companies won't.If the car is total.Can they legally make me pay the impound and two fee if I don't want the car.
Can a co-signer pay the balance of the loan off to save credit history after a repo and then sue the owner of the car for half the loan?
Anyone can sue anyone for almost anything. Winning and collecting any judgment is another thing.
Yes, if a leinholder reposessed a vehicle from a person that owes a debt. then that vehicle is taken to an auction and the person it was reposessed from must pay difference. If the amount owed is $12000 and the leinholder sells it at an auction for $8000 the previous owner must pay the $4000 diff...
that all depends on the loan, the terms of the loan. you need ask the bank not someone on here.
I cant afford the Insurance right now. can you take a loan car off the road im still paying for it im not going to drive it for a while im still going to make the payments is this possible?
The answer depends on a lot of things, including your state laws and the terms of your loan contract.Most states require a vehicle's owner to carry liability insurance if the vehicle is being driven on public roads. Often, you can take your car "off the road," by turning in its license plates and...
They probably bury her.
The co-signer will also have a repossession showing on their credit as well. The co-signer is just as legally responsible for the car as the person they signed for.
As long as the mechanic who preformed the faulty repair admits to it, and is willing to re-repair it, then no you will not have to pay. If the mechanic does not claim responsibility and refuses to fix the faulty repair, take it to small claims court and make sure to bring your invoice, receipt, a...
Do I have to keep paying for a car that has been reposed by a bank if I surrender it to the bank in which is carring the loan?
The bank will sell the vechile, u will be responsible for the difference between what they sell it for and what you owe . plus any interest and penalties.
To pay off the loan by mail: Complete all sections of your check or money order, and make payable to Wells Fargo Auto.Write payoff on the check or money order, and include your 10-digit account number or 17-digit VIN (vehicle identification number).Mail your payoff to: Wells Fargo Auto. PO Bo...
how can i keep my car in my name by using a aid to drive me around if i do have a license anymore
Even if your car is repossessed and later sold at auction, you might not be off the hook.If your car sold at auction for less than what you owed on the loan, you must still pay the remaining balance to your lender.If you do not make those payments, your creditor can sue you in court.
Most likely, but alot of it depends on the co signers credit score, also if they have sources of income other than a job. The purpose of a co signer is for the bank to have someone to go after for a debt if you don't pay.
Even if your car is repossessed and later sold at auction, you might not be off the hook.If your car sold at auction for less than what you owed on the loan, you must still pay the remaining balance to your lender.The creditor will notify you of how much you owe and you will be responsible for ma...
Private parties aren't required to collect sales tax when selling a used car, so you won't pay tax immediately if you buy a car from a private party out of state.Instead, you'll pay a sales or use tax when you register the vehicle in your home state.
You are between a rock and a hard place regarding the loan if he will not give you the information about the loan. The loan will also show up on his credit report, but you may not have access to that, either.You should ask him if he cosigned for a loan. He is your husband. If you don't feel comfo...
In the end, leaving your car idle for 30 seconds to a minute can do it no harm.Technically, letting it run idle longer will not cause much harm, either.However, keep other aspects of doing so in mind.Letting the engine run for no reason is a hazard to the environment.
Well, if they took your vehicle without your permission, and didn't pay for it, then call the police because that would be called stealing. If you let them borrow it, and they have not returned it, then you need to go and get it.
Yes, you have to pay the parking ticket, because it was your fault, you have to pay for the penalty, if you don't want your driving record or your personal credit score to be tainted.Pay that ticket for the peace of mind.If it is paid, your driving record is clear, it doesn't matter if you still ...
Yes, if you have a feature built as part of the car it needs to be in working order to be legal to drive.
Yes, if you donate your car to the kidney foundation they will come tow it away for free. Here is the website for more information if you would like: www.DonateACar.com/Kidney_Fund.
Your car will be repossessed and your credit ruined.Usually you can miss one payment and they will just tack it on to the next months bill with penalty and late charges. If you continue to miss payments they will take your vehicle away from you and it ruins your credit.
If after ten years the repossed car is still on your credit report do you have to pay the loan back?
i repo in six states and as far as i know it will stay on your credit report until you settle your debt to the lien holder
Once they repo the car, the lender will sell the car for whatever it will bring. You will then be responsible for the difference in what the car brings and the balance on the note. You may even be responsible for repossession fees, and your credit will be ruined for 7 years.
Yes, of course. You will also lose your license, since you can not safely drive.Your insurance will.
Can my co signer on my truck stop me from taking my truck that I paid on time for 4yrs and since i got a job in fl he is now saying i can't take it can he stop me?
is the truck fully paid for??? if so and you were the primary name on the credit application then you should have a clear title in your name. if your still paying on the truck i would suggest calling the financial institution you pay and ask them this question.
NO, that is the job of the leinholder. YOU dont want the responsibility of repoing it either. IF you are listed on the TITLE as co-owner, you can go get your car. Otherwise, sit back and enjoy the fruits of co-signing.
Until your car loan is paid in full. Usually around 36 months, give or take.
If there are two names on a car title co-signer but the two want it to be owned by only by one what needs to be done?
It depends on how the names are listed, whether they say and or or between the names. In both cases it would have to be one buys the others interest in the vehicle, even if only for $1.00, unless there is a loan and the lienholder holds title. In that case the vehicle would either have to be paid...
Make to have your husband's car loan paperwork in either scenario.If the car is leased, the same steps apply.Fill out the credit-check paperwork necessary to transfer or add your name to the car loan.The lender will have to make sure that you qualify for financing before they will transfer the lo...
You will pay the difference in what they sell the car for and the balance that is owed on the note. You may also pay the repo fees. Your credit will be ruined for 7 years. Contact the lender ASAP and work this out. They do not want to repo your car and I am sure you do not want to loose it. Actua...
If he needs his space, you need your car.
Vehicle Engine Has Slow Crank, Won't Start When you hear the engine of your car cranking slowly take your car for a checkup as soon as possible.You see, your engine draws amperage from the battery during every start up, and if your battery is close to dying, you may find your car with a slow crank.
If your mortgage advisor recommends paying off your car loan then you're advised to follow their expert guidance.However, it's a fact that a good portion of your credit score is determined by your debt repayment history - including your CURRENT outstanding debts.
All tolls on The Toll Roads are collected electronically -- there are no toll booths at which to stop and pay cash.Visitors and infrequent drivers can pay tolls within 5 days before or 5 days after driving The Toll Roads using our free app or online at TheTollRoads.com using the One-Time-Toll fea...
Man died before i was given my title and in my search for one it seems as if one doesnt exist so how do i plate my car?
i know in Massachusetts you can call the dmv and get information on stuff like that. i am pretty sure that you can apply to get a new title but with the guy who owned it dead i am unsure of that situation. but i would just call you dmv.
Registration for a car should be made from the state in which you are a legal resident. It must be registered somewhere in order to be driven legally.
If you have a car that's too expensive for you to pay for can you turn it in for a cheaper car without paying any penalties?
NO, there will be a penalty in some form all the time for bad decisions. It could be higher interest rates, bigger down payments, ect., but there will be a penalty.
If your husband co-signs for his daughter's car loan will that affect you when you want to get a car loan?
No, not if the wife is the sole borrower.
Are you in a different state? Wouldn't hurt to advise your agent or the policy services dept of your insurance company.
Up to the lienholder but once you default they are entitled to the security and there are expenses involved as well to resell depending on who, amount, value of car and how far along they are in that process will decide it for them. Obviously they will cut their losses as much as they can.
No.The recipient of a gift does not pay taxes on a gift received.Unless you give gift of over $14,000 to one individual, you do not have to file a 709 gift tax form--and even if you gave such a gift, there would not be tax on it.You can give your sister the car without any tax consequences.
No prepayment penalties: You can pay more than the minimum balance due and won't face any fees.If you choose, you may be able to shorten the loan term if you pay off your remaining balance.Online preapproval: Capital One offers an easy to follow application process to find out how much you could ...
maybe, but first there gonna just repo the car
Return again when they are open. If closed permanently, try to find the person who owned or managed it to ensure your account does not go into arrears.
You can get the Application for Disabled Person Parking Permit (Form HSMV 83039) by going to your local County Tax Collector's Office, License Plate Agency or printing the document online.There is no fee for a permanent parking permit, but there is a $15 fee for a temporary parking permit.
No, the handicap placard/license plate allows for parking in handicap spaces, in any parking zone that is restricted as to the length of time parking is permitted as indicated by a sign erected pursuant to a local ordinance, or to park in any metered parking space without being required to pay pa...
Not as long as the resulting suspension period from your DUI conviction is in effect. If it has passed, and you've reinstated your licence, you can upgrade it to a CDL. If your DUI occurred within the past 10 years, your prospects of finding employment as a CDL driver are slim. If it's been withi...
There are ways to get out of a cosigned account, though: Option 1. Help the other person on the loan improve his or her financial habits. Option 2. Talk to the lender. Option 3. Have the car owner refinance the car loan by him or herself. Option 4. Pay off the existing loan more quickly. ...
Employers who reimburses mileage, should not also reimburse for gas or for oil changes.Mileage reimbursement should cover all of those expenses.If an employer does not reimburse the full IRS rate, then employees can deduct that portion on their taxes.
Trading in a Car You Still Owe On One option is trading in your old car during the process of buying your next vehicle at a dealership.It's convenient, because the dealer can pay off the loan balance if you still owe, and, in an ideal scenario, it also reduces the purchase price of the vehicle y...
If you own your car outright, you could use it as collateral.If you have a car loan, you might have enough equity.If you have enough equity, you may be able to use your car as collateral to get the loan you want, though you should check with your lender to make sure the loan terms will allow it.
Unfortunately, it's not always possible to own your car outright.In many cases, you may owe money on your vehicle.And if you have negative equity in your car and need to sell it, the process can be a bit complicated.In fact, selling a car is never an easy thing to do.
It depends. The simple answer is if you as the wife also signed the note, then you are also liable for the debt, if not then in most states you don't have to pay the loan. The debt becomes the debt of the dead man's estate, and the creditor would have to file a claim in the probate case if they w...
If you want to be removed as a co-signer, there are several possible options. What's a co-signer? Transfer the balance to a 0% card. Release the loan. Consolidate or refinance the debt. Remove your name from a credit card account. Sell the financed asset. Pay off the balance. Following...
Can a car dealer in South Carolina threaten your family to have you arreseted for not paying a car loan?
Sure They Can ! Call Your County Attorney, See How Fast They Stop Too.
Yes, unless the amount of the loan was covered by the insurance.
Outstanding finance means you don't own your car There are some situations where you might be able to sell your car successfully, but you certainly won't be able to take it to a scrap yard and have it legally scrapped – they'll know it's on finance and will refuse there and then.
Legally - you can't ! Until you've made the last payment - the car still belongs to the finance company, not you ! When you buy a car on HP, the finance company effectively buys the car on your behalf. They pay the seller, and recover the money from you. The car only becomes your exclusive proper...
None whatsoever if you bought it, "As Is".
You cannot simply return the car. You can voluntarily have it repossessed which is a horrible choice. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are establis...
You might be able to find a small fleet willing to hire you, so long as you can prove that you're still competent to drive a CMV. The major carriers will require you to take a refresher course, though.
The average cost of electricity in the US is 12 cents per kWh.Therefore, the average person driving the average EV 15,000 miles per year pays about $540.00 per year to charge it.
No, you do not have to pay for insurance on the vehicle once it has been totaled because it is not driveable.If a vehicle is totaled and the insurance company provides a check paying for it, the vehicle receives a new type of license in most states.
If you have a home mortgage or a financed car, it either has positive or negative equity (hopefully the first one).If the thing you own is worth more than the balance you still owe on a loan, it has positive equity.When someone has equity in their car, it means that it is worth more than what the...
the question is how you are trying to sell the car. if you are selling the car to a dealership they will give you most likely the whole price, which in the end effect will mean that you ill owe too much money. however, if you sell the vehicle to an individual than you can ask him the current valu...
If my vehicle does not pass a portion or all of a safety and emissions inspection, do I have to pay the inspection fees when it is re-inspected? In other areas of the state, you must bring it back within 30 days to the SAME station that did the original inspection.
If you are refusing to pay while you dispute the bill, the garage has the right to keep your vehicle until the debt is paid.If you make it clear that you are paying under protest, you will be able to get your car back, and it will be easier for you to dispute the cost and claim the money back later.
When you get a loan you sign a legal document that states that you will make the arranged payments on time. There is usually a clause that states when payments are deemed late and how many payments can be missed before the loan is considered "default" and they own the vehicle, outright. The lende...
Whoever holds the loan.Contact the bank or the loan company that you used to get the loan release letter.