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Can your car be repossessed for 'non-payment' if your first payment has not yet come due?
Wiki User
∙ 8y ago
Suzette, what are the details on your purchase? Such as what state? One reason for repo before ist payment due is a person didnt qualify for the financing deal offered. Maybe a small detail got left out. Or a large detail. Its obvious that dealers WANT to move cars. So they will do a LOT to make the deal go thru. For them to repo asap, theres about 2 reasons. the obvious, you didnt qualify OR they screwed up. If it's #1. oh well you tried. If #2. OH BOY, call your or any attorney. JACKPOT.
Wiki User
∙ 8y ago
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If your car was repossessed 7 years ago can creditors come after you for payment now in the State of Georgia?
Yes. Well, maybe. Your are legally responsible for payment of the remaining balance of the loan for seven years from the last date of payment. In the event a judgment was obtained, you are responsible for ten years after the date of last payment. Quite likely, there is a judgment, as this would be the only security the lender has of receiving payment.
How many months can you go without paying your car payment before repossessed?
It depends on the lender. Prime lenders like Cap One may come after you vehicle after the first payment is missed. Chase might take two weeks from the missed payment. Other lenders may wait 30, 60, 90, or even 120 days before issuing a notice of repossession.
How much verbal abuse do you have to take from the bank that repossessed the car?
they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion
Can a vehicle be repossessed for not paying tax tag and title The down payment was made I was given 30 days to pay the ttt and could not come up with the amount?
YOU NEED TO CHECK YOUR STATE LAWS, BUT IF ITS WRITEN INTO THE CONTRACT OR RELEASED TO YOU ON A BAILMENT AGREEMENT THE ANSWER IS YES.
Hiding a car that may be repossessed?
You can hide it but, they'll come back later for it.
What is a 1st payment default if it is not later than 30 days?
A first payment default , is when a bank calls the loan on your car because you are late on the first payment, 30 days or not, actually acording to your service agreement you are late like 4 days after the due day. they take it as a personal insult when you miss the first payment, also as a sign of things to come. usually if the repossess your car for a first payment default they will not give it back if you catch the payment. they will call for the full balence on the note and send the car to auction. Check out www.stoptheRepoman.com for other answers like this.
How long does the bank have to come after you after your car has been repossessed?
Does the bank have your current address and/or phone number? They will be calling on you.
Approximately how long after your car is repossessed do they come after you for the deficiency?
As soon as the lender sells the car, they will know what the balance due is. Then they will come after the money. You will know when that happens.
When you put a down payment on a car do dealers come down on price?
When you put down a down payment the price is already set. You must get them to come down before you agree to purchase which is what your down payment represents.
When a motorcycle is repossessed can the credit company still come after you for the loan?
Yes. If you are recieveing phone calls or lettters in the mail wait until you have saved at least 30% of the balance that is owed, and settle with this company. Make sure you get everything in writing before making this final payment. Wanda Improve Credit, LLC
If a car is repossessed twice will it show up on your credit twice?
I'm struggling to find a way for this to happen. If they took the car the first time, how did it come back for a 2nd repo? I have to imagine that you somehow bought the car once more and somehow landed financing for it again. Then, the 2nd company repossessed it. If this is the fact pattern, yes, it will show up twice.
What is the percentage of cars that get repossessed in New York after purchase?
0.36 percent of cars purchased by owners acquiring loans are repossessed in a quarter in the New York. Repossession occurs as a result of failure of stressed borrowers to come to an agreement with their debtors.
