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Do you still owe the bank after repossession?
If your car or other property is repossessed, you might still owe the lender money on the contract. The amount you owe is called the “deficiency” or “defi...
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What is the difference between repossession and voluntary repossession?
The Differences Voluntary repossession is exactly what it sounds like: you give up your car to the dealer or lender. If you don’t take the vehicle in your...
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What happens to loan if cosigner dies?
When your cosigner dies, you do not need to find another cosigner as the estate of the deceased cosigner becomes the new cosigner. If you default on the l...
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How do you sell a boat that is not paid off?
It’s possible to sell your boat and pay off the loan at approximately the same time. As long as you and the buyer agree on the circumstances of the sale, ...
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Can auto loans be modified?
Auto loan modifications are simply adjustments to your monthly payments (and sometimes your interest rate) which are made to help you avoid repossession. ...
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How long do you have to return a new vehicle in Texas?
Under Texas Law, you do not have 3 days to cancel the purchase like you may with some transactions the dealer is required to register and title the vehicl...
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Can you get an auto loan with 590 credit score?
A 590 FICO® Score is considered “Fair”. Mortgage, auto, and personal loans are somewhat difficult to get with a 590 Credit Score. Lenders normally don’t d...
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Can you own a handgun under 21 in Colorado?
In Colorado, it is illegal for someone under the age of 18 to possess or purchase a handgun. Those are the exceptions for someone who’s under the age of 1...
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Can you cancel a contract within 72 hours?
The 72-hour contract law allows consumers the right to cancel a contract during what is referred to as a “cooling off” period. The timeframe for canceling...
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How do you calculate room and board value?
If more than one person occupies a single room, divide the assumed value of the room by the number of people who occupy it. Add the assumed value of board...
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