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If someone has not made a payment on a motorcycle for three months and it was repossessed what should they do if they do not what the cycle back?
Wiki User
∙ 8y ago
2 choices here.
- 1. Call the lender and tell them you dont want it.
- 2. Do NOTHING.
Same results either way.
Wrong the result is not the same by not taking action. Remeber you received a loan. The company didn't by a motorcycle they loaned you money. In the case that you do not want the bike back then let it be sold at auction. More than likely you will have a remaining balance which you will still need to pay to get you credit in some what good standing. Make sure and contac the lender and let them know what you want to do.
Wiki User
∙ 8y ago
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How much time in the state of Massachusetts do you have until your car is repossessed?
Three months of non-payment
Can furniture be repossessed if payment has not been made in 6 months but you start back making payments?
Yes, furniture can be repossessed if you start making payments again after 6 months, especially if the missed payments are not caught up. The creditor can refuse the payment if court proceedings are already in progress.
Can a motorcycle be repossessed if you haven't made payments in 6 months and then started making payments again?
Technically you breached the contract with the lender if you did not make payments in 6 months. They actually have the right to NOT accept further payments from you. So yes, it can still be repossessed.
What has to happen before a creditor can have your care repossessed?
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.
What is the average time limit of non-payment of a vehicle before it gets repossessed?
Depends on the company. Average 2-6 months.
I was two months behind but still pay a payment every month. can the car still get repossessed?
If they are accepting your payments, they probably won't take your car.
Late on your car payment by 10-15 days once car was repossessed Asked the company why they took car they said had not rcvd that months payment and no wk. Can this be done?
Yes it can be done,read your loan agreement.
Can a car be repossessed one day after a payment was made?
Sure it can, if that payment was not enough to fufill your end of the contract. A car wont be repossessed if it is only a month behind. If you are five months behind, and make one payment, you are still behind... even the next day, when you are only four months behind. One payment may not catch you up. When you purchased the car, the deal was, likely, that you get to drive the sellers car, (seller still owns it till the final payment is made), and the seller gets money from you at stated time intervals, likely once per month. If you broke your end of the deal, you no longer have a right to drive the car owned by someone else. Make those payments on time, then you need never worry about the repo man.
I am wondering about getting a motorcycle loan. I do not have a good credit score.?
If you have a stable work history of at least 18 months and a high down payment, you may be able to get the loan.
How many days does a vehicle have to be past due before it can be repossessed?
three months
What can happen if you havent paid your car in 4 months?
You can be sued and your car repossessed.
How much verbal abuse do you have to take from the bank that repossessed the car?
they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion
