Sentences with phrase «will the lender repossess»

If you can't pay your car payment or your mortgage, you may start wondering, «Will the lender repossess my car?»

Not exact matches

When you take out a car title loan, the lender will put a lien against your vehicle, meaning that if you are unable to repay the loan, the lender can repossess your vehicle to collect on the debt.

If a borrower defaults on his or her car loan, then the lender will repossess the car to try to recover the money it lost on the car loan.

However, lenders will have the right to repossess the collateral, should you fail to pay your debts.

So, in the case of default, the lender will not automatically repossess it.

The lender will have a legal right to repossess the property if the borrower fails to make the monthly payments on the loan.

Lenders will repossess vehicles when they determine that you are unlikely to return to on - time payment status.

The notice will contain (i) the date and time after which your motor vehicle may be sold; and (ii) a written accounting of the outstanding balance on your motor vehicle title loan, the amount of interest accrued through the date the motor vehicle title lender took possession of your motor vehicle, and any reasonable costs incurred to date by the motor vehicle title lender in connection with repossessing, preparing for sale, and selling your motor vehicle.

The worst case for the non-signer is that the lender will repossess the car.

An auto loan will always secure the vehicle as collateral, and if you cease to make your payments the lender can repossess it and resell it at auction.

If you are unable to pay the loan, the lender will not have an asset to repossess in order to recover their losses.

Meaning, you are guaranteeing that you will make the payments for your loans, otherwise the lender has the right to repossess whichever of the two you do not pay.

Most contracts with lenders will say when the missed payments are considered defaulting, and how long the borrower has to contact the lender before they repossess the vehicle.

If they aren't on the mortgage and don't want to pay the mortgage off, the lender will seek to remove them from the property and repossess so it can sell.

This is because a used car is generally worth less than a new car, which means if you fail to pay your monthly bill, the lender won't recover as much value from repossessing your vehicle.

If you can not afford to make payments anymore and stop sending your lender money, then they will eventually repossess the vehicle.

Subprime auto loans tend to have higher interest rates than conventional auto loans, and if a borrower is unable to repay the loan, the lender will repossess the car and sell it.

There are a few things to remember: Do not borrow more money than you can pay back, because if you default on a car title loan in Concord and the lender repossesses your car, you'll find yourself in a worse situation than before.

A debt payment programme will not stop a mortgage or secured lender or landlord from repossessing your home if you have mortgage or rent arrears, (although it may make it less likely for the court to grant repossession).

Auto Title Loan Lenders are not looking to repossess your vehicles, it is only a last case scenario and often, even if you miss a payment they will be more than happy to work with you.

Cars are easier to repossess and auto loans are cheaper to process, so lenders are more willing to take a gamble and stretch eligibility requirements.

If you miss enough payments on your auto loan, your lender likely will repossess your car.

To learn more about what has to happen before a lender can legally repossess your vehicle if you default on the loan, the finance section at Missouri's government website will help.

If you are so far behind on your payments that you are afraid the lender will repossess the asset secured by your loan, and you fear that bankruptcy may be the ultimate result, re-negotiating the debt may be an alternative to bankruptcy.

Lenders are often more willing to lend higher sums to consumers if the loan is secured by collateral because they have something tangible to repossess or foreclose on if the borrower defaults, according to Andrew Chan, a financial adviser at Locker Financial Services, LLC in Little Falls, N.J. Because this is a lower risk for lenders, they may also be more willing to forgive lower credit Lenders are often more willing to lend higher sums to consumers if the loan is secured by collateral because they have something tangible to repossess or foreclose on if the borrower defaults, according to Andrew Chan, a financial adviser at Locker Financial Services, LLC in Little Falls, N.J. Because this is a lower risk for lenders, they may also be more willing to forgive lower credit lenders, they may also be more willing to forgive lower credit scores.

If you end up getting a title loan, your lender will need to be able to place a lien on your title, so he / she has the option of repossessing your vehicle and recouping his / her money in the event you don't pay your loan back in time.

Note that the borrower may also have to pay additional charges, which mostly comes from the expenses the lender will incur from repossessing, selling and storing the vehicle.

If you default on your loan, the lender will take ownership of the car, otherwise known as repossess, in order to recover the money from the loan that has been defaulted on.

Foreclosure will generally involve the lender repossessing the home and re-selling it to another property buyer.