 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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| Suicide??? My friend is hurt and can't work. Bankruptcy is in the air. Can the? |
| Can her bill collectors garnish her husband's wages? They will have no food money then or clothes and stuff. He didn't do this and he can't handle paying all of it back no matter how ... |
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 What happens now? In court? |
| Some company just called me regarding my Credit Card that I havent made payments to in forever. I think at this point, it was a legal firm, not a collection agency. They said they were going to ... |
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 How can I check my credit rating? |
I know I might be being paranoid but about 2 years back I lost my photo driving lisence. I want to check everything is ok (i hope no one is using it for other reasons).
I applied for loans ... |
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josephmills79 | If my partner buys a car on her credit card, then sells it to me, can the credit card company repossess thecar |
If my partner goes bankrupt, can the credit card company repossess the car if she's sold it on? |
 |
 
mibanker
|
Unless there is documented fraud involved.... the answer is NO. The credit card is unsecured and thus the vehicle is "free and clear" of any debt. Thus the credit card company has no lien on title, and the owner can do what they want with property. If she makes the purchase, and then files bankruptcy, then the court may step in and declare a fraudulent intent, and go after the vehicle. |
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RRM
 |
No, the credit card company never own the car, a credit card is unsecured revolving credit. You are thinking of HP, then the finance company own the title of the car until you have paid back.
However, most garages will not accept full payment on a credit card anyway.
The Inland Revenue however will be wise to your scheme, do you think you are the first person to think about disposing of assets? They will take the car. |
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Steve P
 |
Only a lienholder can reposses a car. The lienholder is listed on the title. |
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wizjp
|
Nope. No more than anything else they bought; unless they go to court and prove the sale was an attempt to defraud them.
(Stranger; probably ok. Partner? Not so much.)
But check the fine print on the card; may be something written there specifically for auto's |
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kyle A
 |
NO, I work for a credit card and they will go after the balance of the card, not the car that the credit was used to buy the car with. |
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pootlewales
|
In theory there is no comeback, the way Credit Cards work is that they buy the car for you then "sell" it to you, they don't own it and its yours to do what you want with.
In reality though it depends, if the car is sold for "market rate" then no problem. But if you buy the car for a £1, then your partners creditors (which would include the CC company) could argue that it was a deliberate attempt to defraud and could request the vechicle be repossessed during the bankrupcy petition. I would suggest you pay market rate (or at least produce a receipt for market rate, and I would suggest it sold to a friend rather than you) then "spend" the money. |
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brian t
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People like you put up the interest rates the rest of us pay. I hope you get you fingers burnt on this one. You are suggesting gross dishonesty. She is avoiding debts through bankrupcy, surely this is enough.
I hope you get dropped in it by by somoene else who is equally corrupt! |
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time for a change
|
No! She obviously had to sell the car to pay the bankruptcy fees didnt she!?!? Cant believe it costs you £450 to go bankrupt!! |
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syllylou77
|
If it wasn't paid for they can. It gets a little more complicated but look at it this way. If I buy furniture on store credit & sell it, then turn around & don't pay for the remainder of the bill then the store is within rights to repossess. Often they won't bother unless it's a huge amt. because they can only donate it for the tax write off. But with a car it can be resold & the funds used to pay off the debt unless it's the only car she has then probably not, as certain things are exempt in bankruptcy. One of those things being one car. But if she sold it & has another car that will be the one exempt.
It's hard to believe she used a credit card to buy a car with the exhorbant rates but I guess some do. But it's really a dumb, dumb, dumb move.
But technically until that bill is paid nothing on it is the owner's to sell. You could put a lien against her, contest the bankruptcy and/or add yourself as one of the creditors owed if it is taken. Maybe even have her wages garnisheed after the bankruptcy. Most of these costs money so it depends on how much it's worth.
I think I'd be finding me a new partner. |
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bluecow
|
YES YES and YES!! |
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Jon S
|
No...simple as that |
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heebygeeby
 |
If the cars in your name,and you can prove it belongs to you. They wont,not sure how the law is on couples who live as if they're married. If she's gonna go bankrupt i suggest she sells anything of value,before the creditors get their mitts on it,good luck. |
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 |
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|
dolly dewdrop
|
yes it is up to you as the buyer to make sure that there is no outstanding finance on the car. |
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