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Most companies do not start the reposession process till your 90 days or 3 paymentslate because it is very costly and the funds are almost never recovered.However by law they can repo an item that is 2 months behind with no response from customer to the actual leinholder but it is very unlikely.
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∙ 16y ago
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Can they take your car after 1 month of being late?
Unless you have an unusual contract, you are in violation as soon as you are late and they can repossess anytime they choose.
If your current on your monthly car payments but owe a past miscellanous fee not a late fee can they repossess the vehicle if you refuse to pay that fee?
After a couple of months they can and will
Is it legal without notice to repossess a vehicle in Indiana for being 12 days late on one payment?
Depends entirely on what the contract you signed says. If you are 1 day late they may be able to repossess the vehicle if that is what the contract says and what your state laws are regarding repossessions. Read your contract.
Can a bank repossess your car for being 2 weeks late with a payment?
Read your contract. It likely says the lender can repo anytime you are in DEFAULT. Two weeks late is unusual, but they could repo when you are 1 day late.
You have paid your car payments but have late fees can they repossess the car?
Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.
Can a finance company in Texas repossess a vehicle if one payment is missed?
Check your loan documents but they can if you are one day late. Most don't because they really want the money. Three to six months late on payments the REPO man will be looking for ya.
What is missing out?
not getting to do something or being late for an event
How long does a creditor have until they repossess a vehicle?
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
Can the lien holder repo my truck when payments and insurance are current?
They will not repossess a vehicle unless you have defaulted on the loan. Defaulting on the loan is being late with the payments. Call the lender and talk to them.
Can you repossess a car that is under your name from a friend who is always late on the payments?
Yes, it is your car.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
Is it legal for a car dealer to repossess a vehicle after 27 days late on payment?
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.
