Do You Still Have To Pay After Voluntary Repo? You’ll be responsible for paying any balance after the sale, along with any fees, like late-payment or prepayment fees. If you aren’t able to pay, your account could be turned over to a collection agency, which would show up in your credit history. Is a voluntary
Can I Make Payments On A Deficiency Balance? Can I make payments on a deficiency balance? When a deficiency balance is owed, the lender can take certain steps (including legal action) to claim the remaining debt. You may be asked to pay your deficiency balance in a lump sum, but if you don’t have the
Can I Lend Or Can I Borrow? Can I lend or can I borrow? “Borrow” means to take something from another person, knowing you will give it back to them. “Lend” means to give something to another person expecting to get it back . So the sentences you asked about are both correct. Which is
How Bad Does Car Repo Hurt Credit? A car repossession could happen if you fall behind on monthly payments. This can hurt your credit for up to seven years. It could also cost you thousands of dollars. Not only could you lose your car, but if the bank resells the vehicle for less than what
Can You Sue Someone You Loaned Money To? Can you sue someone you loaned money to? Yes, you can sue someone who owes you money. When someone keeps “forgetting” to pay you or flat out refuses to pay up, the situation can quickly become frustrating. You can take the issue to a small claims court
Can You Negotiate Back Child Support Arrears? Can you negotiate back child support arrears? California has implemented a temporary program in which debt may be reduced up to 90% in cases where back child support is owed to the county. Incorrect court orders are a main cause of back child support problems. Can child support
Do You Have To Pay Back A Promissory Note? Do you have to pay back a promissory note? What happens when a promissory note is not paid? Promissory notes are legally binding contracts. That means when you don’t pay back your loan, you could lose your collateral. If there’s no collateral to secure the loan,
What Does God Say About Loans? What does God say about loans? The psalmist David wrote, “The wicked borrow and do not repay” (Psalm 37:21, NIV). The Apostle Paul wrote in Romans 13:8, “Pay all your debts except the debt of love for others— never finish paying that!” (TLB). Is it a sin to be
Can A Lease Be Voluntarily Repo? If you know your leased car is about to be repossessed, you can agree to hand it over voluntarily. This can limit fees that you will pay and might reduce the damage to your credit. Is a voluntary surrender the same as a repossession? When you voluntarily surrender the
Does A Federal Subsidized Stafford Loan Need To Be Repaid? Does a federal subsidized Stafford loan need to be repaid? You’re effectively getting your responsibility to pay that interest back “waived” with a subsidized loan during those time periods. Once you start repayment, the government stops paying on that interest, and your repayment amount includes