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Unfortunately, yes they can repossess your car. They have the right to take it at any point that you do not make a full payment on or before the indicated pay day. The only exception is if you have a written agreement that states you have a grace period.

Otherwise there is nothing you can do about it except pay in full on time every time.

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โˆ™ 2015-07-15 21:38:26
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Q: Can a finance company refuse to accept a payment and then repossess your car?
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Can a finance company repossess my car if I am only one week behind in car payments?

Typically, yes. Unless you have it in writing that they will change your payment date, or accept a later payment, they can repossess your car for being only a day late on your payment. However, most companies will not repossess this early as it usually ends with them losing money. They make more money by you paying your monthly payments plus interest. In the long run, if they repossess they have to sell the car at wholesale or auction and typically the person whose car was repossessed does not pay the balance due. This whole process takes a lot of time and money. Usually your finance company will avoid repossession until it is a last resort. Buy here pay here places aren't so nice however. In the end, legally speaking, the answer is yes.


Does a mortgage company have to accept a late payment during a bankruptcy if they receive it?

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How do websites accept credit card payments?

Websites accept credit card payments through companies that offer payment and transactions processing services. The company processes payment, takes a fee and forwards payment to the company.


I have paid 2500 dollars on a 2700 dollar car and sellers refuse to accept final payment and are threatening repossession. What are my rights?

A seller may not refuse final payment in an attempt to repossess.


If the dealer accepts partial payment can they still repossess your car?

Yes. Once the lending agreement is in default the lender may take whatever action they choose in recovering the monies owed. It is a misconception that by making a partial or token payment the creditor will not be able to assert their legal rights. The lender can accept the payment, still repossess the vehicle or pursue litigation.


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What happens when you dont pay your monthly car payment in full?

If they accept the payment you're ok. The big question is "If." You should send enough to pay the interest. Most companies don't repossess the car for a couple of months.


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Can a car company take payment then repossess?

Basically... probably yes. You should check the terms of your loan contract closely, but most likely it says, prettied up in lawyer-talk, "If you are even one day late with the payment, we can take the car back, sell it, and charge you for the expense of doing so plus the difference between what we sell it for and what you still owe. Also, if we accept a late or partial payment once, it doesn't change the terms of the contract or obligate us to do so again, and we can still repossess the car if you're not current on your payments."


How can your finance company accept your car payment then refuse to finance you?

That's ridiculous. This must be an unrepeatable company or you were taken advantage of. Hopefully, you paid in traceable funds (check or money order). More than likely you had some kind of scrape on your credit or there was a mix up at the dealership, but without a correct loan number they should not of taken your payment. That's very fishy, because of the fact they aren't going to take you money if they haven't even funded the deal yet.


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The address to send a payment can probably be found on the company's website or by calling the company and asking for the payment address. Many companies also accept electronic payments now as well, and these are processed securely and more quickly than mail.


I had work done on my car and have not paid it in full. The owner of shop refused a part payment and started proceedings to place lien on my vehicle. Can he do that?

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What exactly does PCI DSS stand for?

PCI DSS stands for Payment Card Industry Date Security Standard. It is a standard which measures security features for company's who accept payment cards.


Can a Jehovah's Witness accept donation money?

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Can a mortgage company legally refuse to accept a good-faith payment on a delinquent account due to disability?

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I tried to make a payment to a bill collector they refused to take the payment. I went to the company that turned me in to collection they accepted the payment. what are my rights?

If the collection agency did not accept your payment, the debt should be discharged from their control. You might need to contact an attorney to make sure these debts are removed from your credit report. If you are making payments to the company that sent you to collections, they will need to remove you from the collections agency.


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Does every car insurance company accept payment with credit card?

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