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Can a finance company in Texas repossess a vehicle if one payment is missed?
Wiki User
∙ 13y ago
Check your loan documents but they can if you are one day late. Most don't because they really want the money. Three to six months late on payments the REPO man will be looking for ya.
Wiki User
∙ 13y ago
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How long after a missed car payment does the finance company repossess the vehicle?
The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance company and get triple what the car is worth. I guarantee you they won't take it. You can also put a mechanics lien on the vehicle to protect your interest in it.
Can a finance company change your registration when trying to repossess your car?
Is it legal to? NoIs it possible to? NoThe finance company does not have possession of the vehicle so can do nothing with the paperwork on that vehicle until the do secure possess of it.
How long does it take for the bank to write off a vehicle if they are unable to repossess it?
I think it varies on how long and who the finance company is but the last time I made a payment on my truck was November of 2007 and its January of 2009 and im sill driving it
In Maryland can a finance company repossess a vehicle that is 38 days in default?
Yes, the lender can recover the vehicle any time after the lending contract becomes in default.
After 15 days can a company reposses your car?
can a finance company reposses your vehicle if you made your payment on the15 day
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
What is the time span of a late payment until your vehicle will be repossessed in the state of North Carolina?
As many as your finance agreement specifies.
How long does a creditor have until they repossess a vehicle?
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
Can a finance company repossess a vehicle in Louisiana when the loan originated in tewas?
Yes. Lenders repossess vehicles in states other than the one they are located in on a regular basis. No prior notice, replevin order or license is needed for a repo agent to take possession of the vehicle.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
In Texas do they have to inform you before they repo your vehicle?
It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.
Can a finance company threaten to repossess car?
Yes, depending on the state in which the vehicle is domiciled and the loan is originated. In general, if after thirty (30) days a payment is not made on a vehicle then a finance company may notify the borrower that they are going to reposess the car. For customers with good credit, the threats do not come until after sixty (60) or ninety (90) days. For customers with historically poor credit, the threats will come as soon as possible (30 days).
