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Can a bank repo a car after the contract has expired and you still owe money on the loan even though you continue to make payments and they have provided no paperwork on any breakdown of the balance?
Nosanity03
Yes, the bank can repo the car but only if you were not making the continued payments on time. I would request in writing by registered letter a breakdown of what you owed and paid up to the time of the letter. In turn, start putting all your cancelled checks and/or your bank statements together proving you made all the payments you have made. When you get the breakdown--match your checks to the payments and see where you or the lender went wrong. If there is any discrepancy then make copies of your copies and again send your paperwork to the same person who sent you the breakdown. Call that person and work to resolve the issue. Once you get it worked out--see if the bank will rewrite the balance you owe (if any)into a new contract that you keep this time. This will improve your standing with the bank and your credit. Good Luck
Wiki User
∙ 17y ago
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What are some pros and cons of the completed contract method in accounting?
A con of the completed contract method of accounting is that nothing is noted in the ledger until the contract is completed. A pro is that there will be less paperwork in accepting partial payments.
If a financed vehicle is contracted with another person who is not making payments can it be repossessed?
If you're asking whether the vehicle can be repossessed for non-payment, it can, regardless of who's supposed to be making payments. Whoever appears on the contract or paperwork for the car is responsible for the payment, regardless of what informal agreements may be in place.
How many missed mortgage payments before you get repossessed?
Its usually 3 months when the bank starts the paperwork and harrassing you to make payments
How can you void a contract with a car dealer if you can't make the payments?
Once in contract with a car dealership you are bound by law to carry out the remainder of the contract and make all payments or face criminal punishment.
Can a car title loan company continue to charge you when your vehicle is stolen and insurance handling the matter?
Absolutely. What you have is a financial contract. It is the same as any other finance agreement. You are required to continue to make payments and interest will continue to accrue until the balance is paid off. In order to keep whatever is left of your credit rating you should be advised to make your normal payments the same as you have been doing in the past.
Is it better to let take someone take over payments with a contract?
depends. but contract is better than no contract
A general document that explains payments deliveries and?
contract
DO you get your payments back on a land contract?
No, you will not get your payments back. If you do not complete the purchase, you have essentially been renting the property.
Can they legally repossess your car if all your monthly payments are up to date but you have made a few payments a day or a week late?
Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
Can your Contract For Deed payments be added to your credit report?
99999
Can your car be repoed if you are not behind on payments?
Technically yes - the vehicle can be repossessed if you are 'in default' of your obligations under the contract. So while the usual way to default on the contract is by missing payments, it is possible for you to be in default by another way, outlined in the contract you agreed to.
