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Are the payments due after repossession the actual car notes or can you negotiate a payment in the state of Maryland?
Wiki User
∙ 8y ago
You can make an offer in any state. Its up to the lender to accept or reject it. Has the lender tried to work with you on payments already and it didnt work out?At this state of the game, the lender wants more than promises. They want MONEY NOW. The more the better. They can get 25% of your disposable income by garnishment so why would they settle for less in an offer? Its time to get serious about paying this debt. Good Luck
Wiki User
∙ 8y ago
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How will one be able to stop the repossession of a vehicle?
Sometimes one can negotiate with the company holding title to the automobile and work out a payment schedule to pay back the amount in arrears, but some companies will not negotiate at all. The easiest way to prevent a vehicle repossession is to ensure that all payments are made according to the payment terms.
What happens when you get call regarding repossession but no letter after making a payment?
One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
If your loan is not 30 days over due and you have the money to pay the payment can the bank refuse your payment?
Yes. When a contract becomes defaulted, the lender does not have to accept payments or futher negotiate with the borrower unless they choose to. Most lenders will try to work with the borrower rather than resort to the expensive process of repossession or legal actions.
Can a car be repossessed if you are two payments behind?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
How many payments in the state of Texas can you be behind for repo?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
How can you avoid repossession of your vehicle if you are willing to pay in installments?
Definately try and negotiate a payment deal. Don't take no for an answer, ask for managers, supervisors whoever you need to to make it happen. Be as honest as you can.
What are the repossession laws concerning a title loan company and are they able torepossess a vehicle 2 weeks BEFORE the first payment is due?
The repossession laws will vary with each city/state. A title loan company can't repo a car if the payment is not yet due unless the car is behind on payments.
Can a bank still repossess your car if they said they would cancel it and you have made payment arrangements to get current?
If you continue to make payments as agreed, on time, you should be safe from repossession.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
How late can a vehicle payment be in Virginia before repossession?
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
Is it legal to reposes a car 8 days before the payment is due and five days after purchasing the vehicle?
That sounds odd, repossession is usually done when you've missed payments.
