Repossession

Can they still repossession your car once payments are caught up?

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2005-10-17 22:27:39
2005-10-17 22:27:39

Be sure to make calls to the different offices holding the car. Let them know that the car has been paid, as far as the bill due, and that want to make sure that they understand through documents, recipts from billing to impound service.

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Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.

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In the state of Nevada, if you do not make payments on a car you are buying, it can be repossessed with no notice given to you. Once repossessed, you will still be liable for all further payments even if the car is sold at auction to another buyer.

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Get a hold of a lawyer, because I was told by my friend going through this situation, that His lawyer told him that NO debt once it has gone to repossesion (once that car has been resold), or collection beyond the finance company is allowed to still accrue late payments or interest.

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