2007-10-29 07:58:05 · 11 answers · asked by mark48226 1 in Business & Finance ➔ Credit
First your credit takes a beating from the late pays or no pays and then they repossess your car and foreclose on your home and finally they sue you for the balance due on both of them.
2007-10-29 08:06:17 · answer #1 · answered by ? 7 · 2⤊ 0⤋
If you are more then 30 days late it shows up on your credit report and hurts your score. The longer you go the worse it gets. If they end up repossessing your car or foreclosing on your house your credit will be horrible for many many years.
2007-10-29 08:02:10 · answer #2 · answered by always an opinion 4 · 1⤊ 0⤋
They will send you a letter before thay do anything
if you are having problums paying you need to call the lender and ask for a payment defermant
2007-10-29 08:01:16 · answer #3 · answered by coryw029 2 · 0⤊ 0⤋
You end up in a cardboard box, with a shopping cart, and debt collectors, and no credit, but you do get the entertainment of dumpster diving for food.
2007-10-29 11:26:49 · answer #4 · answered by Pengy 7 · 0⤊ 0⤋
They repossess what ever it is your not paying. You need to contact them and see if you can get more time or get a debt consolidation place
2007-10-29 08:01:35 · answer #5 · answered by gm 4 · 2⤊ 0⤋
Your house can be foreclosed on and your car can be repo. So then you won't have a home or a car.
2007-10-29 08:00:44 · answer #6 · answered by countrygal 4 · 1⤊ 1⤋
They take your car or house away from you
2007-10-29 08:00:54 · answer #7 · answered by Anonymous · 1⤊ 1⤋
I call my mom or grandparents, after a minor breakdown : )
2007-10-29 08:01:59 · answer #8 · answered by nita5267 6 · 0⤊ 2⤋
1) they take your house
2) they take your car
2007-10-29 08:00:12 · answer #9 · answered by Roland'sMommy 6 · 1⤊ 1⤋
see the above answer
2007-10-29 08:01:04 · answer #10 · answered by Anonymous · 1⤊ 2⤋