What happens when an auto loan defaults?

Answer Failure to pay auto loan payments promptly when they come due can result in the auto loan going into default. A defaulted auto loan can have serious consequences such as credit damage and repossess... Read More »

Top Q&A For: What happens when an auto loan defaults

Laws on Unsecured Loan Defaults?

Unsecured loans are offered based solely on the borrower’s creditworthiness. The lender receives no collateral or other security for the loan repayment other than the borrower’s intentions to m... Read More »

What state has the largest number of home loan defaults?

Nevada has the highest mortgage default and foreclosure rate in the country, nearly twice the national average as of April 2010, followed by Arizona, California, Florida and Michigan. North Dakota,... Read More »

What happens if one defaults on an auto lease?

It can be difficult keeping up with bills, however an auto lease is a contract legally binding you to make payments on your vehicle. Failing to uphold your agreement can have very negative results.... Read More »

Which loan is better: an auto loan or a signature loan?

On One Hand: Auto LoansWhen you are purchasing a car, you can use the car as collateral so that the loan becomes less risky for the lender, which means you get a lower interest rate. A lower intere... Read More »