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Christine, while you didnt have coverage , you were in default of the contract. Then they could repo the car. Until the lender gets the notice that you have coverage again, you are still in default. maybe there are other issues that put you in default???

2010-09-21: It has been my experience that when notified of non-insurance, the creditor (bank or credit union or otherwise) can demand immediate payment of the balance of the loan. Not repossession. They don't really want the car; they want the money. They didn't select the car; you did. See how it works? You don't insure? They want their money. Where i live, it is a requirement that an insurance company notify the lien holder (bank) upon no insurance on a vehicle. Would you rent a safety deposit box at the bank and let them leave the box outside for the night? Well, maybe bad analogy, but you get the point.

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โˆ™ 2010-09-22 02:59:51
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Q: Can a creditor repossess a car for not having continuous insurance even if you have coverage now?
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Related Questions

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A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.


In New York State can a lender repossess a car even if it's current when you are in default on another loan with the same creditor?

It depends how are you in default.... is it because of insurance coverage??Need a little more info here to give you a better answer.


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Yes Usually they allow a grace period for an arears payment, but they do not have to.


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