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Can a vehicle be repossessed if the loan is not in default but other unsecured debts are.?

Curtis Rhodes

in Student Loans

1 answer

1 answer

Tara Andrews on April 13, 2019

Separate loans, does not have the right to drive of The two loans are separate, since you said it was "unsecured", so it does not seem that they are capable of. The Credit Card company will list as defaulted if more than 6mo past due, and then sell, give 7years for the next company to pick up on it, before it is paid for by you or sold again. Do not let it go into default ^25% and it affects your credit! You could send this to your legal team and prepares you for a possible wage garnishment, or a lawsuit for non-payment of the debt. Why pay in advance on a loan, when behind another? I'd pay the car first, but at least make a minimum payment on the CC. Maybe. Although the vehicle is a secured debt and the loan is not, if more than one of the financial transaction is for the same institution in which it is possible for a set off clause was included in the terms of the contract that allows the lender to take the vehicle if the personal loan is the default. No warranty just means that there is no specific property that is held as collateral for the debt, this does not mean that the assets or property of the debtor can not be seized and sold for the payment by means of a lawsuit judgment. An embargo is only possible if the lender wins a lawsuit and executed the judgment as a wage garnishment.

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