When is a car loan considered to be in default?

Answer Defaulting on your car loan (or being in default) means that you have failed to make numerous payments on your car loan and your lending company is taking action. Default does not usually occur imm... Read More »

Top Q&A For: When is a car loan considered to be in default

What happens when you default on an RV loan?

When a person loses his job or runs into other money problems, he might fall behind on his RV payment. After a few missed payments, the RV loan will go into default and the RV will be repossessed.E... Read More »

Is a car loan considered a secured loan?

Yes, a car loan is typically considered a secured loan because the value of the vehicle is used to guarantee repayment of the loan. If the borrower stops making payments, the borrower can take or r... Read More »

When is a student loan in default?

A student loan is in default within 270 days of not making a payment that is due. Loans are typically due around six months after you leave school. After leaving school, you can apply for a deferme... Read More »

What Happens If We Default on an SBA Backed Loan?

The U.S. Small Business Administration does not fund loans directly. Instead, it offers guarantees on private business loans. This means the SBA is giving the private lender insurance in case of de... Read More »