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

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 »

What happens when you are involved in an auto accident and it is your fault and you have no auto insurance?

AnswerThe person can sue you for the damages. Garnishing your wages or property. In many states in Georgia you can also face criminal prosecution including fines and time in jail.

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 when an auto is destroyed in a repair shop fire while it is being repaired from an auto accident that is someone else's fault?

Answer Usually garage keepers liability will cover the vehicle, but if not the other insurance company is still on the hook for at least the cost of the repair