0
Can a bank repossess if you are making the agreed upon partial payments?
Wiki User
∙ 13y ago
They can repo anytime you are in DEFAULT of the contract.
2010-09-21: Also, in addition to the answer: While the bank can reposses when the repo clause comes into play, I don't know of any instance that once a bank agreed upon partial payments, they reneged and repo'd the vehicle anyway. Remember: they'd rather have the money than the car. If it comes to haveing it repo'd through a repo company, the bank would still rather have their money than share it with a repo company. The person at the bank that you speak to is being watched by the bank manager, etc., blah blah, and he or she would rather keep good information on the books. He or she, as far as my experience, will help you in your situation.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Does default means not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
If loan is not reaffirmed on a mortgage is the property still mine payments are made on time?
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
Does the lender on a car loan have to notify the cosigner before they repossess the car in TN?
They should since they are just as responsible for making payments as the primary.
What is meant by having a bad loan?
The term bad loan refers to loans where the borrower has not been making payments as originally agreed upon by the lender. Bad loans are often never repaid.
Are orchard bank online payments legal?
Yes, Orchard Bank online payments are legal payments. Making online payments is faster, easier, and often more secure for both the person making the payment and the bank itself.
Can you repossess a car from your ex if they are not making the agreed upon payments?
i think so:D
Can a creditor repossess property if you are making payments?
no they cannot
Can your loan company repossess your car if you are in arrears but are making payments?
Yes.
Can a finance company repossess your car when you lose your job?
Only if you stopped making payments and are behind on your on your payments.
Does default means not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
Does default means does not pay?
Default means that you have not made the agreed-upon payments in full on time. You may be making partial payments (ie, paying $250 a month instead of $350 a month), but still be in default.
Would your car dealer have you locked up for not making payments?
No, they'd repossess your car.
If i stop making payments on a camper my dad had in his name only and he died what can the finance company do to me?
Repossess it
Can a cosigner repossess a car if the primary borrower stops making payments?
No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.
Can a bank repossess a car if they continue to take payments?
YESIFyou are not up to date, if you are behind on your payments they can repossess at anytime. In most loans, there's a statement about late and/or partial payments that basically says the bank can take them but isn't obligated to do so and that taking one late or partial payment does not mean that they have to continue to do so.So, if you owe $200 a month, and pay $100, the bank can accept that and still repossess the car. They do have to credit the $100 towards the loan.Also, banks are usually allowed to repossess for habitually late payments. Most of the time a bank will consider this to be more hassle than it's worth as long as you're eventually catching up, but if you're chronically making payments several weeks late, they might at some point decide "this guy is a flake, we should get out of this deal while we still stand some chance of recovering our money."
When can the government repossess property such as a car?
when you arent making payments for several months when you dont pay your taxes
Is it legal to repossess your work truck when you are self-employed?
Yes, if you are not making the payments the bank can repo your truck.
