Yes, if other terms of the contract are breached, such as having no car insurance.
yes you would have to pay all the back payments and probably a fee.
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
YES. The bank or lender, who owns the vehicle ( You don't own it until ALL the payments have been made ) are within their rights to take it back as you are not insured if you don't PAY for the insurance. You are risking THEIR property, the car, by not having insurance coverage on it continually. Remember, you DON"T own it until ALL the payments have been made in full. Until then the company that LOANED you the money to buy it , OWNS IT.
No, once the car is repossed by the seller, you will not be arrested but the company will often resale the car at auction and can sue you for the remainder of what you owe including interest.
Depending on where you have it financed, it usually is between three to four months when they will start the process.
The person or company that repossed it.
Can I get my personal property from the car if it has already been repossed without paying a fee?
Sell or continue to make the payments. Do not let the car be repossed. This would hurt your credit and is the last thing to do.
Legal grounds are payments not being made...usually if there is a car involved, if 3 payments have not been made in a row and there has been no contact made with the signers. Reposession will be put into play.
payment late?? then its NOT on time and in DEFAULT. WHAT is not stated in the contract??? No lender is going to repo a car when only one payment is 3 days late. If you have made all the payments on time and you are only 3 days late, and they repossed your car, you need to contact the lender and see what is going on. Something is not right here.
ANY LENDER, by law, can reposses your car if your 1 day past due! There is no stopping them. You need to act fast before it is too late.
When you purchased the vehicle you assumed the responsibilty for making the payments. For most finance companies their terms for default allow more than ample time for you to have made arrangements. If they failed to send you a payment book you should still have known you had payments to pay.