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The most common forms of default resulting in repossession are failing to make required payments and failing to maintain adequate insurance coverage. Many U.S. states have enacted additional laws that apply specifically to the repossession of purchased and leased automobiles, and which are intended to afford additional consumer protections. [3]
You can’t apply for a mortgage close on the heels of a bankruptcy. You’ll have to wait until a court or creditor approves your bankruptcy plan, you’ve discharged certain of your debts (as ...
Opponents of a bailout believe that the automakers' problems could be more efficiently resolved by a bankruptcy court with legal power to dissolve existing contracts, shedding costs, and debts that it can no longer afford. They suggested that a government "car czar" would be ineffective since their actions could be swayed by Washington politics.
If you want to get out of your car lease early, learn whether you can refinance before your lease is up and how to do it to help your financial situation.
TARP allowed the United States Department of the Treasury to purchase or insure up to $700 billion of "troubled assets," defined as "(A) residential or commercial obligations will be bought, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes ...
However, ending a car lease early isn't always easy. While you may have options to get out of a lease early, including an early buyout or finding a new lessee, you can't just drop the car off at ...
In most jurisdictions, a lender may foreclose on the mortgaged property if certain conditions—principally, non-payment of the mortgage loan – apply. A foreclosure will be either judicial or extrajudicial (non-judicial), depending upon whether the jurisdiction within which the property to be foreclosed interprets mortgages according to title ...
Filing for bankruptcy, while helpful for some, can have a variety of serious and long-term implications. Not only will you see a credit score drop of up to 200 points, but the bankruptcy will stay ...