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Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
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∙ 11y ago
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Before a car can be repossessed doesn't it have to be behind in payments by at least two months?
Nope.
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.
How many payments behind will Volkswagen repo your car for?
two
Will your car get repossessed if you have missed payments with Black Horse for two months?
Maybe, by Fedral law your car can get repossessed if you are ONE DAY past due on your car payment. I know many repo agents and they have a saying "Support your local repo man-- miss two payments" I wouldn't hold off much longer to pay them. You should call them and try to get a deferment or two.
Can a bank sell your vehicle the day after it is repossessed in Alabama?
Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.
Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?
If the dealer calls you after the car has been repossessed, then you should inform them that you no longer have the car. They can contact the finance company to verify the information.
Can you repossess a car in Alberta that belongs to both my husband and myself?
A car can be repossessed if the payments are not being made. It really doesn't matter whether it was bought by one person or two. The car dealer just wants to be paid.
Will your car still be repossessed if you are late two or three payments but pay up to date after you get the default letter?
Read that letter carefully. The one that I am most familiar with clearly states that you have 20 days to make any past due payments and if they are paid you may continue with the original contract, BUT if you become delinquent again, they may exercise their rights without giving you any additional notice. That means from now on you had better not miss any payments, not even by one day, or your car could be repossessed.
If you own two cars and are able to make payments on only one and are letting one get repossessed can the finance company for the repossessed car do anything toward the remaining car?
Possibly yes. They can resale your repossessed car dirt cheap and sue you for the difference in what you owed and what they got for it. Then they can sue you to collect that difference. If they win the suit they can have the sheriff pick up anything you own to sell at public auction to help pay that money they supposedly "lost". It's possible but not real likely. It depends on the mob that runs the finance Company
What can you do if your car was repossessed but you were not behind in payments?
IF you had ins. coverage and were not in DEFAULT of the loan in any way, CALL AN ATTORNEY NOW ! ! ! Are you sure the vehicle wasn't actually stolen? Usually the only two reasons for legal repossession are being in default on your payment or not keeping the required minimum insurance on the vehicle. This is to protect the finance company from possible loss and basically protect their investment.
Can your car be repossessed if the payment is two weeks late?
READ your contract. If you are in DEFAULT of the terms, you can get repoed.
How many payments can you miss before your car is repossessed?
It varies from company to company. They won't tell you their policy, even if you ask. They CAN reposses after just 1-2 missed payments, I believe. They will not notify you. I was 3 payments behind with Key Bank, and I never got a call or a late notice in the mail or anything. Just woke up 1 morning & it was gone. You DO NOT want your car repossesed, ever. If you don't want the car anymore, call them & make arrangements with them to give up the car, and it will be much easier and not look as bad for your credit. I actually wanted my car back, and although I only was behind $600-$700, it cost me about $1600 when all was said & done to get it back. (And my radar detector was gone, the battery was dead, & it had obviously been driven very hard.) Even if you can't pay them right now, calling them is always better than avoiding them. If it is a temporary financial situation, many will offer a deferrment for a month or two. If they don't, ask. Also, if there is any danger your car may be repossessed, don't leave ANYTHING you don't want to lose in your car when you get out.Usually 3 months. There could be shorter or longer terms by lenders.
