 Is it possible to take out a loan using my car as collateral? |
I would want to repay the loan over the course of two years or so, but the money would be very helpful to boost investments.
Additional Details
The car is worth about $10... |
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 I am a new resident of canada and i am thinking of stopping payment to credit cards in the USA? |
| i was informed by credit agencies in the United states that canada and United states credit union or collection agencies don't communicate. So if i stopped payment there would be no way for them ... |
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 What happens when you don't pay off credit card debt? |
| Can the company sue you for not paying off the debt? Does it eventually go away? What happens when you do not pay off credit card debt?... |
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 How do you buy things online without a credit card? |
| Well, I want to buy a T-shirt online, and only available online but the thing is, I'm 16 and I live with my grandmother but she doesn't have a credit card. It got hacked and she just ended ... |
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 We just got a collection notice for an 11 year old bill, how do I dispute it? |
| We have not heard anything about a bill for at least 10 to 11 years and now all of a sudden they say we owe money. How can that be when our credit report has not shown the debt and how do I keep them ... |
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 Is it possible for someone who isn't an American citizen to own a car? |
| i watched a commercial where you could pay a certain amount of money per month to purchase a car, does this apply to non-American citizen's.... |
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 Is my mother responsible for debt my father incurred, who has now past on? |
| We thought we had everything covered but just recently we got a call asking when my mom going to pay and how much. Good thing I was here, she told her nothing, but the women said she would call back F... |
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| Do your medical bills go on your credit history if they are sent out for collection? |
| i heard that medical bills could not be included and doesnt affect your credit rating. Is that true???? I pay my credit cards, mortgage and car on time every month, but I have alot of medical bills ... |
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 Good credit card with high limit for people with bad credit??? |
| i dont have good credit but i need a credit card with a limit of 1000 dollars perferably, whats a good card to get that will approve me for that limit????... |
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 I need a good credit card? |
| does anyone know aof an easy to get credit card? I have bad credit and have the orchard, and capital one cards. But their rates are high. Any suggestions? How about gas cards?... |
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 Who can I talk to about credit repair? I have a 675 score but am being denied for credit.? |
| I own 2 rentals and 1 house. Income is commision about $60,000. I also have about 6 small credit cards totalling about $6000. I want to transfer balances but have been denied. Should I cancel all the ... |
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 What is an easy credit card to get??? |
| I already have one through my bank, but I'm going to close it. I'm only 20 and as you all know its hard to establish credit. My Credit score is a 690.. which is fair, so why do people with ... |
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 Do Barclays really over-charge their customers ? |
| Is it just a problem with Barclays or do all banks do it ?... |
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 Bank incressed my overdraft by £500 without consent! What can I do? |
| I left my job in Dec had no money coming in for a little while the bank decided to up my overdraft limit. Which has now thrown me into debt as I now have a overdraft limit of nearly £1000 i get paid ... |
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 Is it worth getting a..............? |
| credit card. The reason i asked was because i want to buy a few things over the net but they only want credit card users. I have a debit card but this isn't much ... |
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 How do I tackle my credit card debt wisely and more efficiently?? |
I have 4 credits cards:
(1) - 3300
(2) - 1000
(3) - 500
(4) - 500
(Hospital Bills) - 600
I make 500.00 a week and I do not pay any rent -- only phone (40/mo),... |
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katycorkarooney | What is bankruptcy and if i filed it how would it effect me(read on)? |
Im on benefits due to illness and my debts are spiralling out of control...debt consolidation companies are not an option as its still too expensive and the last ones i used werent sending payments and i was doing their job but payingthem for it.
I simply cannot afford all these old debts...ppl on here have said file bankruptcy but dont i have to be working to do that/if not how do i do it....what happens and how will it effect me...
will baliffs come round...please help i don't understand it! |
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horsemanspal
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go and see an insolvency practioner,this is a better way than going bankrupt.you get to pay of your debt by agreeing a fixed sum to the pound,say 10p for example and the length of the term.after you have completed that term all debt is wiped out.during that time,no baliffs or anyone else for that matter will bother you for money as it is a legal agreement.i am simplifying a little but it really is not as daunting as you may think.just go and see a insolvency firm and be totally honest.dont worry ,it is soon resolved and these days there is no stigma atached.being broke is allways a downer,the companies that offer to loan you money to consolidate your debt are just legalised theives,dont touch them.GO AND SEE AN INSOLVENCY FIRM-GOOD LUCK. |
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katie d
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.Bankruptcy laws in the US changed in 2005, they are not very beneficial to the person who is filing them. Basically you have to pay the money you owe back to the creditors while the old law let you wipe the debt away.Call a bankruptcy attorney and they will explain how it works over the phone, they don't charge anything for advice. But it will cost you about $1,000 to file bankruptcy in court costs to your lawyer. You cannot do it without a lawyer. |
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decrodedpoop
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Bankruptcy is when most of your bill dissappear , but not all though . Problem is , it stays on your record for 7 years and you wont be able to buy a car , house , get a credit card . If you are able to do any of those things , the interest well be so high it wont be worth it to do . I say keep working with the consolidator and you can make it through . Bankruptcy is like the last choice . And you can only claim bankruptcy with a few of your debts , not all . Just the major ones . So you well still own most of your others , just not the biggest one. |
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marie
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If you own your own house don't do it you will lose everything! but if you hav nothing to lose go for it, get everything wiped off! my friend was only bankrupt for 4 months and they didn't work and had debts over £24000! phone lots of companys write all the good points about them and see which one is the best. if you get it sorted ASAP you wil not get the debt collecters coming to your house you wil get phone calls and letters. also if you own a car out right, put it in someone's name you can trust otherwise they will take you car.
hope this helps.... its not a bad thing goin bankrupt, your credit rating is prob crap so its not going to make a differance!
good luck hun. |
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thats_tops_aussie
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Your debts get wiped, but it affects your credit rating for 7 years. |
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Ring of Uranus
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Unless your debts are for (uk only) TV licence or council tax you do not have to allow the baliffs into your home (and DO NOT! invite them in, even if they ask to use the phone etc. once they are in, then they can do as they please with your things)
Bancruptcy is applied for at a court (£260 to file and any CAB will help you fill in the application) for a reciever to manage your accounts. The reciever will advise anyone you add to the list of creditors that he is now responsible for your debts. He will take anything (usually only cash unless you have the odd Rembrandt hangin' on the walls) that you have as an asset and divide it equally between your creditors (in practice they will get £0.00) He will administer your finances for ONE YEAR (the time for non business bancruptcies was reduced a couple of years ago) Benefits are not taken as they are considered minimum subsistance.
I would suggest you remove any amount you have in any bank and start recieving benefit via book / post office before filing. After a year, the reciever will discharge any claim against your assests and hand your responsibility back to you but with a zero instead of a minus in your account.
You should still be able to get a basic bank account etc after discharge (you cannot have one during) as they all know they are essential in todays economy.
Good luck. |
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pollywallydoodle
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Hi ther Bankrupcy you can file yourself. It will cost £485 minus £150 if you are on benefits. You can get the forms online and fill them in. Go to www.insolvency.gov.uk and all the info is there on how to petition etc. I would get advice first from a professional like cab or cccs. An iva as suggested above will not work as you have no income spare , bankrupcy would probably be the best option. You would be discharged after a year and your debts gone. yes it will affect your credit rating for about 6 years but do you want credit anyway, I dont.
Deal with it now and less worry will make you feel better. Not your fault so dont worry. your name will be in the local paper for a day and that is it . You must be careful though if you own property as thais can be taken in bankrupcy. Baliffs as said above can only come for council tax etc . You will not lose your possesions unless of great value, like antiques etc.
Loads more to say but this is the basics, first and foremost go to cab or cccs and they will explain what happens and will help to fill the forms if you need help, asd wont charge for it.
All the best to you |
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Liverpool4Life
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My suggestion would be to call a bankrupcy lawyer, they specialize in these matters. The initial call and consultation should be free of charge. Ask him about all of your concerns, he would be the best one to ask. From what I know...you tell the lawyer what you want included into the Bankrupcy. If you don't want to loose a house, don't include it. If you don't need both cars, include one. That would cut down on the payments and insurance. Medical bills...collect all of them, and I mean all of them. Credit cards...get rid of them. It will affect your capability of getting "good" credit for 7 years afterwards. You will still be able to get a credit card, a car loan, a mortgage, etc...but instead of paying 9.00% for a credit card, you will pay 21.50% or worse. Same goes with the car loan and a mortgage.
In the long run, if it is all you can do to save a marriage, save your family, save a house, or save a business...do it.
If it is not a necessity, if you are just trying to get rid of a credit card balance, or "ONE" bad debt...don't do it.
Good Luck |
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To ∞ N-Beyond
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it will distroy your credit for (7) years. maybe you should be alittle more responsible with your money. its people like you that help raise intrest rates for others. |
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