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It depends entirely on the contract. Most likely the lender is following the terms of the agreement. Your choices are to repay the loan in full or turn the car in. The car will be sold at auction and you will be responsible for any amount left owing, plus costs. If you turn it in you won't have to pay for the repo fees. If you sell it yourself and pay off the loan you'll get a better price.

The bank won't let you catch up and forget everything happened. You are now considered high risk and have been more problem than they want to deal with.

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โˆ™ 2011-09-12 15:44:57
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Q: Auto loan is 5 mths behind Lender declared entire balance now due payable Legal action taken if the entire balance is not paid or pymt arrangements made Can arrears and fees be paid to reinstate loan?
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