0
Can the company sell the vehicle after a second repossession without you catching up on payment?
Wiki User
∙ 8y ago
It depends on state laws, but in most places, the notice you got on the first repossession probably said "in the event that you become delinquent again, you will have no right to cure the default" or something to that effect. So, yes, the second time they can just come and take the car without any additional notice.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
What is the statute of limitations in Georgia for repossession of a vehicle?
I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.
How late can a vehicle payment be in Virginia before repossession?
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
What are the repossession laws concerning a title loan company and are they able torepossess a vehicle 2 weeks BEFORE the first payment is due?
The repossession laws will vary with each city/state. A title loan company can't repo a car if the payment is not yet due unless the car is behind on payments.
How will one be able to stop the repossession of a vehicle?
Sometimes one can negotiate with the company holding title to the automobile and work out a payment schedule to pay back the amount in arrears, but some companies will not negotiate at all. The easiest way to prevent a vehicle repossession is to ensure that all payments are made according to the payment terms.
Where can I find a sample letter to request skip car loan payment?
You do not need a letter, you need to call or visit the loan company and talk to them about this personally. Skipping a payment can result in the loan company starting repossession proceedings on your vehicle. This is something you do not want to happen so contact the loan company immediately if you are unable to make your payment on time.
If you make one payment when payments are behind can this stop the repossession?
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
How far behind in my car payments can I be, before I have to worry about repossession?
You can start to worry about repossession of your vehicle as soon as you miss your payment. Depending on the loan amount and the type of vehicle you have you may have up to 30 days from your last missed payment to risk loosing your vehicle. If you keep in touch with the lender of your car, you have a better chance of not loosing your vehicle right away.
Can a finance company go on your property to retrieve a vehicle for repossession in NJ?
Yes
Do late fees be used for repossession of a vehicle?
can you repossess a car for non payment of late fees even though the initial payment has been made in Colorado
What is involved in a Repossession of a vehicle in Tennessee?
In Tennessee, a truck or car finance company can hire a repossession company to take your vehicle if you do not make payments and are in default. They are not able to break into a locked garage to take your vehicle and they cannot forcibly remove a person from behind the wheel of the car.
What is special about the Repo Truck company?
There is no company with the name "Repo Truck", but "repossession" of a vehicle simply means the financial lending company "takes back" the vehicle, because monthly payments on the vehicle have ceased.
Can a car be repossessed if you are two payments behind?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
