Auto Loans and Financing

Can car be repossessed if pay on the past due amount?

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Wiki User
2007-06-27 00:57:15

"Pay on" - sure - your still in breach of the payment agreement

and owe the debt - just by a lesser amount. (The lender has the

obligation to do everything to mitigate (that means lessen) his

damages...that would seem to include accepting partial payments

which act to do so.

"Pay off" all amounts due - then no repossession should occur -

there is no debt to be in default of not not paying.

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