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What can happen if car loans are not paid when there is no vehicle do to a wreck?
Wiki User
∙ 16y ago
Then they will repossess the wrecked vehicle, sell it for what they can get, apply that to the loan balance, and you will be responsible for the balance on the loan. They will sue you in court to get it and will win. Now if you continue to make the loan payments, then none of this will happen. Did you not have insurance on this vehicle?
Wiki User
∙ 16y ago
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Which statements about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds A+
Do federal Stafford loans have to be paid back?
Yes, you need to pay back federal Stafford loans.
Are 401k loans paid off when there is a merger of two companies?
No
How are boat loans and car loans similar?
Boat loans and car loans are basically similar, but have some differences. Boats are considered a luxury and you cannot have a co-signer on a boat loan. Boat loans can be paid off over a longer period of time than car loans.
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There are plenty of types of student loans that are available to those looking to go to school to better their life. The most common type of student loans are loans that are borrowed from the government itself. These type of loans come in two varieties, subsidized and unsubsidized. These loans types are important to consider in that they have different meanings for how they must be paid back. The subsidized ones are given to those who are from lower income families. On these loans, the interest is paid by the government. On the unsubsidized ones, the individual must pay the interest on the loan that they are borrowing.
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.
If you were in a car wreck in a company vehicle and the at faults insurance only paid for half the bills who pays the rest?
You probably would.
What are auto refinance loans?
Auto refinance loans allow you to refinance your previous loan taking into consideration how much you have already paid on the vehicle. This generaly reduces the monthly payment as you are paying on the reduced auto price, but it will increase the interest paid as you will be prolonging your loan.
What different types of title loans are there for a motorcycle purchase?
There are several different title loans available for motorcycles. Motorcycle title loans are usually short term and expected to be paid back within 14 days. There are many options for motorcycle title loans. The loans may not be as big as those on a regular vehicle but can still help you out when you need it the most.
If a non-owner of a vehicle has a wreck and damage to the car hit is paid by the owner but there is no collision insurance on the vehicle at fault can the drivers insurance be responsible in Tennesse?
No, The vehicle owner chose to accept the risk associated with not having collision coverage. You can not use someone elses policy to cover the owners collision loss.
Which statements about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds A+
Statement about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds.
Can you get your student loans paid for by joining the peace corp?
if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans
What happen when you buy vehicle from private owner and finance is not paid in full?
The unpaid finances are transferred to you and you should pay them in order not to impound your vehicle. Than you can sue the previous owner.
How long does cosigned studen loans stay on your report?
They stay on your report until the loans are paid off.
What student loans can be filed under the UCC?
The student loans that are not paid in time can be filed under the UCC.
Do federal Stafford loans have to be paid back?
Yes, you need to pay back federal Stafford loans.
