The accounts must be unsecured (not secured with collateral) but we will handle remaining deficiency
debt after repossession.
Normally, the question involves charged - off credit card accounts, leftover balances on car
loans after a repossession, unpaid collection accounts, tax liens and defaulted student loans.
It would be far more beneficial if the extended notice was
granted after a repossession had been granted, which would allow tenants good time to find another property.
In some circumstances you can use Palk v Mortgage Services which is a case where the lender was ordered to sell the
property after repossession rather than rent it out indefinitely.
Although second - chance auto loans are out there, even subprime lenders may want you to wait at least a few
months after your repossession before they'll offer you a loan.
If after repossession, the car is sold for less than $ 300 no further action can be taken against you to pay the remaining balance.
To figure whether the gain or loss is long - term or short - term, your holding period includes the period you owned the property before the original sale plus the
period after the repossession.
The account must be unsecured (not secured with collateral) but we will handle remaining deficiency
debt after repossession.
After repossession, the property is normally sold for its current value to recover the amount owed the creditor.
You arranged a sale which was refused by the lender, but
after repossession the house was sold by the lender for a much lower price.