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Can your car be repossessed if your payment is less than 30 days delinquent?
Wiki User
∙ 17y ago
Maybe. Once a contract is in default, meaning a payment is late regardless of whether it is a day or a month (unless there is a grace period) the lender may take whatever action deemed necessary. However, some US states require a "Right To Cure" notice be sent to the borrower before repossession action can be implemented.
Wiki User
∙ 17y ago
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Can your car get repossessed if you are not 30 days late with payment?
Yes. Most lenders give customers 10 to 15 days grace to make a payment or for a payment made to post. However, by the language of most car notes, anything past a certain period of time (usually two weeks) is considered delinquent, and the balance of the loan is owed. The lender at this point is not required to accept anything less than payment of the remaining balance. And, the vehicle can be repossessed at any time to secure payment of the remaining balance.
Do you have to pay for a car that was repossessed?
NO because if l/15=07.75936 then the total of your car payment must me less than that so u get your total of -6.973333 so u cannot
If payment terms are payment in 60 days is that legally when payment is sent or when it is received?
When payment is received. But, most lenders offer a grace period for receipt of payments, partially for this reason. Your best bet is to give no less than three days mail time for a payment to be received.
Can you stop a debit card payment?
Yes if the payment was fraudulent. Usually there is a very short time window (2 days or less) to notify your bank.
I paid 750 toward a down payment on a car I had 50 remaining. They repossessed my car the morning after I was supposed to pay the remaining 50. I had the car less than a week. Can I get my 750?
If I were you, I wouldn't of paid it if you couldn't. But I'm pretty sure you can
Is there any way to get a repossessed car back in Maryland?
You will have to contact the holder of the loan and make arrangements to get current and pay the penalty BUT They can refuse anything less than 100% payment with additional fees because they had to spend the money to repo it.
What happens if your repossessed house is sold for less than what is owed?
You owe the difference I think.
Can a collection agency send your account to an attorney for a lawsuit if it is has been delinquent for less than six months?
Yes.
When your car gets repossessed after 2 months of non payment can you get your down payment back?
No once it's repo'd you either have to work it out with whoever financed the vehicle to get it back or your at a total loss. And banks will sell the vehicle at an auction to the highest bidder which most likely if you just got the car will be thousands less than what you just financed it for,which you'll also owe on top of your loss.
How many days late can you be before your car can be repossessed?
It depends on where you are. Some states require that a default notice must be sent, and the borrower must be given at least 11 days to "make good' on the payment. Others don't require any notice at all, and theoretically a lienholder could repossess the vehicle the day after the payment was due.No lender actually would do such a thing; repossession is a pain in the rear for them, too. But you can't count on 60 days, or 90 days, or whatever. The best thing to do if you know you're late on your payments is to talk to the lender; they're more likely to "cut you some slack" if you're communicating with them than if you appear to just be ignoring the fact that you're behind on your payments.It's also a lot easier to negotiate with the bank before they've gone to the hassle of actually sending someone out to take the car back than it is afterward. By the time the car is repossessed, the lender has more or less given up on the hope of getting paid any other way.
Can the bank repossess a 30K dollar car when less than half is still owed and only 128 dollars is past due?
The bank can legally repossess a car at any time you default on the loan regardless of the vehicles value or the amount past due. If your car payment is due on April 1st and you don't pay than you are legally in default on your contract. If you make a partial payment (less than the amount you agreed to pay in your contract every month) and the bank didnt agree to this arrangement then you are still in default. The best bet would be to pay the $128 before the car is repossessed or to pay the back balance owed if it has already been repossessed.
What does Minimum payment in your credit card bills mean What happens if pay less than the Minimum payment?
It's called minimum payment for a reason.. and that reason is that you don't have to pay you're full balance.. but you have to pay the minimum payment. NOTHING LESS
