 Credit cards after bankruptcy? |
Please do not judge me or post nasty comments about bankruptcy...
My husband lost his VERY good paying job and could only get a job paying about $50,000 less. We got into a bad spot and ... |
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 Should I file Bankruptcy or pay my debt? |
I am about 30,000 in debt, mostly from credit cards.
I was married already when the debt occured but they are all in my name, not my husbands. This weighs on me alot. I stopped paying on ... |
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 Actually, I had an interviewer ask me if they could check my credti??? I just said politely.. Why would? |
| you want to do that?...They explained it is policy and so forth...so my answer was No...I said it very nicely...I was SHOCKED that they wanted to go into my personal business????...My credit is fine.... |
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 When I try to add my credit card to my paypal account it keeps saying it is already in use by another account? |
| At first I was just using my paypal account to buy things on ebay; I was not selling anything. Then I wanted to sell something, but ebay said my email address could not be confirmed, so I had to ... |
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 Desperate for cash please help!!? |
| I've just found out that my newly aquired husband comes along with alot of debt..I need some ideas of how to make some extra cash..I've done the ebay,online surveys and I've already ... |
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 What Happens if I stop paying on my car loan? |
| Back in March, I purchased a car from JD Byrider with 22 % APR...( I know, I know). A week ago, I was in an accident, (a hit and run), so I didnt get any license plate numbers. As a result of the ... |
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 How old do you have to be to apply for a credit card? |
| How old do you have to be to apply for a credit card? (Discover, American Express, Visa...)... |
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 Can I use more my debit card and spend more that what is in my account? |
For example, what is I have 5 pounds in my account, but I want to spen 10. Will my card work?
I know there is the risk of overdraft, but I need to spend the money today and I will put it in ... |
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 Do you think there should be harsher laws with people with delinquent debt? |
| Ok here is the thing, i see people owing thousands of dollars in debt and get away with not being forced into paying it. For cc companies/collection companies dont sue because its too much hassle ... |
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 What's a good way to build credit, when you have no credit? |
I tried two department store and I wasn't approved because of innsufficent credit.
So what is a good way of getting credit?
I was wanting to get one item at a time and pay it off ... |
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 Took phones as I knew I am leaving for good.? |
| I am leaving London for good.But I live in one of the EU countries.I have 5 contracts. All with different companies.one from "carphonewearhouse",another from "phones for you"...... |
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 Is it better to make the min. pymt. on c.c. ? |
| I'm trying to build my credit and I was wondering if I should just pay the min. payment due, or if I should make a bigger payment to kind of show "good faith" , so to speak.... |
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 Can i get an auto loan? |
Im 17 with no credit, just got a job at McDonalds; havent had a Real job before that except for mowing yards, yard work etc,
I need $8000 for a car i want; and my parents could co-sign, ... |
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 Where can i get a car loan with low interest? |
I have ok credit and have been approved but the interest is 15%. That seems really high. Is that average? Wheres the best place to get a loan? I live In Indiana if that makes a difference.
A... |
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 Sick of no response on Answers from Askers? |
I joined Answers to try to help people with their issues giving my expert opinion as I am a credit professional by trade.
I have experience in many other areas as well. These ignorant ... |
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bikerreveal | Auto reposed they sold vehicle but are trying to make me pay the remainder of the loan? |
am i still responseible for the loan |
 |
 
Sophie
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Yes. When they sold the car they sold it at auction and it probably went for the lowest amount possible... you are responsible for any money still owed. It should have all be laid out in the letter they sent you saying you have until XX day to contact us and take care of this or we'll sell it at auction and you'll still owe us money. Next they will turn it over to either their attorney or outside counsel to pursue you for collection... they will more-than-likely take you to court for judgment, which will eventually catch up with you in the form of a garnishment.
This is a very important life lesson... mistakes don't go away, you have to own up to them eventually. |
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Big Bobby Clobber
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You are responsible for the total value of the loan less the amount that they got when it was sold. |
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WP
 |
This happened to us, and here's what we did.
We ignored all threats and letters from them for a year. They sold the debt to a collection company. We owed 12,000.00 We settled for 2400. We paid them in 4/600 dollar chunks and had them report to the credit bureau's it was settled in full. Then 6 months later we challened the original debt from the car company on our credit reports. The car company didn't care because they were done with it at that time so it ended up coming off our credit. No repo, no ding, saved almost 10grand and it only took 2 years to clean up. |
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ÅŅÑΣŦŦΣ™
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Yes, you have to pay the amount they are out for the car. |
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Yggdrasil Mithos Symphonia
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Do you always sign loans without reading them???
You probably missed the fine print, and yes you probably still owe. |
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PrincessPlum
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Yes, if the price they recoup for the auto doesn't cover the balance of the loan.
They 'loaned' you the money to purchase the car, you are paying back the loan, even if you no longer have the car. |
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gbftl1
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Yes. I.E. if your house burned down and you have a mortage you still have to pay it. |
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anthonyky
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Yes you are still responsible for the remainder of the loan. |
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melissa
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It happened to my friend too and sorry, he had to pay. |
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stormwarnfm
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Yes, you are still responsible for the loan, but you CAN make an offer of what you could repay vs. what they want.
They are NOT out all of the interest they are trying to collect.
So, if your vehicle sold close to the asking price, and they are trying to collect more interest than vehicle, make an offer of 40% of the balance, and if they say yes, then by all means, make your payments on time.
It's win/win...they get some money, you look better to the bureau. |
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mldjay
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Yes, If you owed $5000 and the auction brought in $2000 you still owe $3000, you need to work out a payment plan with the loan company. This is why financial counselors always suggest trying to sell your car before a repo so you control the price. Same with selling your house before foreclosure. |
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liv3wire ~
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Yes But they cant do anything to you but report it to the credit bureaus if you don't pay. And if you do pay it doesn't help your credit score any. Because you still have a repossession on there. So don't waste your money. |
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Space Ghost
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Yep |
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SPIFIMAN1
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Yes, you are still responsible for the balance remaining on the loan. Just because they took the vehicle doe's not release you from your responsibility to pay for it.
Now the bad news is that the payoff just went way up because they are going to add repo fees, storage fees, auction fees and lawyers fees to the balance. Plus you can bet that they sold it at auction for a lot less than it's worth.
Example. You owed $15,000.00, they sold the car for $8,000.00 you now owe $7,000.00 plus all fees and interest. |
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Susan C
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Very simply, yes. It is called a Deficiency Balance.
You borrowed X, didn't make the payments and they picked up the car and sold it. You still owe the balance. |
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