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Can a vehicle be repossessed because the payment is 15 days late after 4 years of payments and only 3000 dollars owed?


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Wiki User
2015-07-15 18:35:25
2015-07-15 18:35:25

If you are in DEFAULT of the contract, the collateral can be repoed.

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Yes, furniture can be repossessed if you start making payments again after 6 months, especially if the missed payments are not caught up. The creditor can refuse the payment if court proceedings are already in progress.

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The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed.

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Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.

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A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.

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Only if you have failed to make the agreed payments on time.


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