answersLogoWhite

0


Best Answer
Copy

Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?

User Avatar

Wiki User

โˆ™ 2015-07-15 18:41:00
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Add your answer:

Earn +5 pts
Q: Can they legally repossess your car if all your monthly payments are up to date but you have made a few payments a day or a week late?
Write your answer...
Submit

Related Questions

Can a company repossess your vehicle if your payments are up to date?

Not legally, but if you bought the car from Barney's backyard sales & mower repair, maybe.


Can a used car dealer repossess a car that is not in delequent of payment?

No, and why would they? If the payments are up to date and have been made on time, there would be no reason for the dealer to repossess the vehicle.


Can a finance company repossess my car if I am only one week behind in car payments?

Typically, yes. Unless you have it in writing that they will change your payment date, or accept a later payment, they can repossess your car for being only a day late on your payment. However, most companies will not repossess this early as it usually ends with them losing money. They make more money by you paying your monthly payments plus interest. In the long run, if they repossess they have to sell the car at wholesale or auction and typically the person whose car was repossessed does not pay the balance due. This whole process takes a lot of time and money. Usually your finance company will avoid repossession until it is a last resort. Buy here pay here places aren't so nice however. In the end, legally speaking, the answer is yes.


Can they repo a car once you have paid up to date but still owe 7000?

If you are up to date with your repayments then the finance company are unable to repossess your vehicle. If you have defaulted on your payments then they are able to repossess the car, the number of missed repayments which qualifies for repossession will be stipulated on the agreement you signed when you first purchased the vehicle.


How can one lower credit cards monthly payments?

The best way to lower one's monthly credit card payments is calling the card issuer and explaining why one wishes to lower the rate. Depending on the creditor they may extend the due date.


Can a bank repossess a car if they continue to take payments?

YESIFyou are not up to date, if you are behind on your payments they can repossess at anytime. In most loans, there's a statement about late and/or partial payments that basically says the bank can take them but isn't obligated to do so and that taking one late or partial payment does not mean that they have to continue to do so.So, if you owe $200 a month, and pay $100, the bank can accept that and still repossess the car. They do have to credit the $100 towards the loan.Also, banks are usually allowed to repossess for habitually late payments. Most of the time a bank will consider this to be more hassle than it's worth as long as you're eventually catching up, but if you're chronically making payments several weeks late, they might at some point decide "this guy is a flake, we should get out of this deal while we still stand some chance of recovering our money."


What is auto debit?

An arrangement that authorizes your monthly loan payments to be deducted automatically from your bank account (usually a checking account) on a given date each month.


What exactly is a loan auto calculator?

An auto loan calculator helps in figuring out the amount of the monthly auto loan payments and the paid-off date if all payment are made, based on the auto loan amount, term, interest rate, and start date. It can also help figure out how extra payments change the paid-off date.


What date do you legally have to turn heat on?

What date do you legally have to turn heat on in NJ?


What does 1111111 mean on your credit report payment history?

means your up to date with your monthly payments in the past 7 mths (past) 1111111 (present) if you have a 2s or 3s in the series of numbers ... ie) 111231121 it means you have been behind with your monthly payment that paticular month. 1s mean paid monthly payment on time 2s mean 30 days (missed one payment) 3s mean 60 days (missed two payments) 4s mean 90 days (missed three payments)


What kind of information will I get if I use mortgage calculators?

A mortgage calculator is a good tool to use when shopping for mortgages. It is a way to compare mortgages rates so that you choose the best one for you. The other information you can get from a mortgage calculator is estimating monthly payments. You can also see how extra payments affect the payment date. Lastlly you can calculate a payoff date. This can help you plan your payments to pay off the mortgage loan early.


What is the process of reposession of RV in California?

you need to take care of this situation ASAP or you will be court ordered to give up the car! My advice would be to get proffessional help, they will be able to stop repo, help with car payments, lower monthly payments, lower interest rates, get you caught up to date on your payments, stop repossession, and avoid repossession!


Can your leased car be repossessed because of no insurance even if you are up to date with your payments?

If the terms of the lease include the requirement that you must provide insurance on the vehicle, and I've never seen a lease agreement that doesn't, yes, they can hold you in violation of the lease and repossess the vehicle.


What is meant by commission date?

Commission date is generally referred to the date payments or commission is sent out.


can someone other than the owner of a car reposess a leased car from you. if the contract does not show a payment due date?

The leasing agreement shows the payment terms, including the amount and due date. The lease should also have language pertaining to repossession. The owner of the car has to file a request to get permission to repossess the car and, once permission is granted, can engage the services of a repo agent. When the request to repossess is made to the court, the owner or leasing agent must show that payments are in arrears.


How long till they repossess once you are late.?

As soon as 10 days after due date of payment. The laws vary from one State to another, and a finance company will not usually reposses on day 11, but they legally can. More often it's 30 days, or until you owe two payments. You may get your car back if you pay all late payments, late charges, and the remaining balance owed. If the finance company sells the car and gets more than what is owed, they must reimburse you the difference. They can also reposses if you let your insurance lapse. Protecting their interest.


If you are legally separated in South Carolina can you date other people?

Morally or legally? Morally, maybe, legally yes.


How similar is hire purchase and leasing?

With hire purchase you pay a deposit followed by a set number of monthly payments. Once all the payments are made the goods are yours. Wth leasing you pay an intial fee followed by monthly payments but, unlike with hire purchase, you have to return the goods to the supplier once the leasing contract has expired. The advantage of leasing over HP is that, with leasing, you can keep up to date with new technolgy and the latest models. Also, with HP, capital goods will depreciate over time.


Can an 18 yr old male in high school date a 17 yr old girl in high school legally in Ohio?

yes they can date whoever they want legally it does not matter where it is yes they can date whoever they want legally it does not matter where it is


Can the co-owner of a vehicle repossess it from the other co-owner who has always had possession of the vehicle without the permission of the lender and the payments are up to date?

A Co-Owner has all the same rights to the vehicile as the owner, who by the way is also a co-owner. See Co-Owned..


Im 16 and my boyfriend is 18 can we date legally?

Yes you can legally date him as long as you guys dont have sex then its statitory rape. But yes it is allowed.


Can you date your third cousin legally?

Its not illegal to date any of your family members.


Can your car be legally repossessed in 4 days they gave you a letter saying you had 10 days?

When they send the letter, it's ten days from the time the letter was drafted. As for when they can repossess legally, that's a matter of your contract, and the laws of your state. Repossession agents and creditors stay pretty up-to-date on legal issues, and if they've repossessed your car, it's probable that they did it in a timeframe where it was legal for them to do so.


Can a car be traded in for a used less expensive car if the payments are not up to date?

Dang right. They will love you. Get the payments up to date and sell your car. Then buy you something cheaper.


In Georgia can a 18 year old date a 16 year old?

Not Legally, but if you want to date you can date.