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Virginia

Can the bank repossess your vehicle if you are only 17 days late in Virginia?

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2017-12-14 05:46:00
2017-12-14 05:46:00

Read your contract. Likely the answer is YES. As long as you are in DEFAULT, they can repo.

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Banks can foreclose in as short as 90 calendar days.

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Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.

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They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.

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Yes, the lender can recover the vehicle any time after the lending contract becomes in default.

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If a loan is one day late they can repossess the vehicle, but most lenders would never do that


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