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Can the company sell the vehicle after a second repossession without you catching up on payment?

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2015-07-15 18:36:27
2015-07-15 18:36:27

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.

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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.

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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.


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