So, what actually goes down when a bank makes a claim through insurance—specifically for an unsecured auto loan? Like, how does the whole settlement process work between the lender and the insurance provider once they get paid ...also, another thing on my mind—if we're talking about a loan that wasn't used for its intended purpose, still unsecured, but it's covered by a life insurance policy and the bank just goes after those funds... what happens then?
Has anyone actually ended up behind bars because of credit card debt? And I mean, like, did they lose their house or some other property that wasn't even tied to a mortgage or anything...
And just to make things even more stressful—I’m due to give birth in about a month and a half, but I haven't had any income coming in for months now... I'm seriously just barely scraping by at this point
So, how does it actually work when everything hits the fan at once—you know, when all those credit cards and loans start piling up? I mean, I’ve already dealt with my checking account being in the red, but there’s still a mountain of other stuff left to figure out...
I don't have any collateral tied up in these loans—they were all just straight-up personal loans—so I was wondering if there’s anything else that could trip me up, like maybe some fallout at work...
What’s actually the absolute worst-case scenario when you end up on a bank's blacklist? — basically, because of some weird circumstances, I haven't been able to stay on top of my loan payments or credit card bills over the last few months, so now I'm officially flagged and honestly... I have no clue what kind of mess I'm looking at next...