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READ your contract. When you are in DEFAULT, they can repo. Legally only one day, but most lenders will work with you if possible.

to whom it may concern, I co-signed for someone and they coundn't make the payments. I got laid off and i couldn't make the payments. I am now currently working and i don't want to lose the car i could pay the three months car payment. could the car dealer wait for two more weeks until i get paid. the car is helping me to get to work. Can they understand the situation?

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โˆ™ 2015-07-15 18:49:18
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Q: How far behind do the payments have to be before the lender can start repossession?
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How many payments can you be behind before your car go into repossession?

As little as 1. Depends on the lender and the agreement you signed. Read the loan agreement. My advice. Call the lender and talk about this. Work something out! You do not want your car repossed.


How far behind do your car payments have to be before it can be repossessed in the state of Virginia?

In Virginia, the law states a lender must submit notice in writing at least 10 days before a car is to be repossessed. Therefore, car payments that are late can be subject to repossession at anytime, provided notice has been given.


How do you findout if your car is in a repossession list?

Call the lender you make your car payments to and ask.


Can a lender take legal action against the homeowner?

It's called repossession. The lender owns the property, the homeowner is making payments.


What is repossession notice?

The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.


Will your car be taken off of repossession if you pay money on it?

Only if you pay up all the arrears payments that caused the repossession process to begin in the first place. Partial payments will have to be negotiated with the original lender.


Can a repossession agent take a vehicle without waiting for the borrower to show proof that payments have been made?

Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.


When can your car be repossed?

The most frequent cause of repossession is lack of payment on a note owed to a financing company or bank. The lender can repossess anytime after a payment is missed, but most won't start such proceeding until you've missed two or three payments. Always try to work with the lender before you get too far behind.


Can a car repossession be legally challenged after the fact if it can be shown that the overdue payments were received in the mail the day prior to the repossession?

Not unless the borrower can also prove the lender agreed to accept the late payments in lieu of repossession action. Once a contract is in default the lender may take whatever means allowed under the laws of the debtor's state to recover the property and/or debt.


Can you get your car back after repossession?

Yes, you can get your car back but you only have ten days to do so before the car goes to auction, in order to get your car back you must bring the full amount of payments you are behind to the repossessing company. The lender can deny you the car back also, depending on how many times you made late payments.


Can you get your vehicle back after repossession?

The first step is to contact your lender. They will have those answers. It usually involves making up past payments, and paying the repossession fee, and perhaps storage.


Are the Lender of a repossession allowed to charge a storage fee and a repossession fee in the state of California?

In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.


If you are threatened with a repossession can you pay the balance before they repossess the car?

IF the lender accepts it you can.


How many payments can you miss before your car will be repossessed?

Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle. Remember it is not your car until you pay for it. It belongs to the lender.


Can auto repossession be negotiated?

The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.


How far behind in my car payments can I be, before I have to worry about repossession?

You can start to worry about repossession of your vehicle as soon as you miss your payment. Depending on the loan amount and the type of vehicle you have you may have up to 30 days from your last missed payment to risk loosing your vehicle. If you keep in touch with the lender of your car, you have a better chance of not loosing your vehicle right away.


Can you set up payments for what is left after a voluntary repossession and the vehicle is auctioned?

You can always make an offer, but its up to the lender whether its accepted.


If you make one payment when payments are behind can this stop the repossession?

Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.


What do you do if you have asked the lender to allow you to make partial payments but they refused and are threatening repossession?

You can expect repossession. As for advice: don't keep anything in your car that you don't want to haul out in a garbage bag at 2 AM.


How many payments behind can you get before your mobile home will be foreclosed on?

Usually 3 payments does it - but that is up to the lender. - Don't just let it happen ! - Go to them, try to work out a solution. It often works,


You kept making car payments after discharged in chapter 7 if you stop paying and don't surrender the car can the lender go and undo your bankruptcy?

No. But, the vehicle will become a repossession if payments are not made.


What are the repossession laws in New York?

Repossession without judicial process is allowed if the lender has not breached peace. A lender repossessing an automobile must issue a notice to the borrower, and a lender can sell an item via public auction after repossession.


Will SAFCO garnish your wages for a 12000 repossession?

Any lender has to get a judgment before they can garnishee anyones wages.Then the debtor has to have wages before any lender can garnishee them. It is up to the lender whether or not they go that route in the collection process.


How long do you legally have to redeem your car after its been repossessed in Georgia?

Before your car payment is due, call the lender and ask for extra time. If you're at least a few months into the loan and haven't missed any payments, the lender will probably let you miss one or two months' payments and tack them on at the end. If you don't pay or make arrangements with the lender, the lender can repossess without warning, although many will warn you to give you a chance to pay what's due. If your car is repossessed, you can get it back by paying the entire loan balance and the cost of repossession, or, in some cases, by paying the cost of the repossession and the missed payments, and then continuing to make payments under your contract. If you don't get the car back, the lender will sell it at an auction almost always for far less than it's worth. In most cases, you'll owe the lender the difference between the balance of your loan and what the sale brings in. If you are far behind on your car payments and can't catch up, the truth is that you may not be able to afford the car. Under these circumstances, you should think about voluntarily "surrendering" your car before the dealer repossesses it. This strategy can save you expensive repossession costs and attorneys' fees. Because it also makes life easier for the dealer, you should try to get concessions from the dealer before you give up the car. A dealer will often waive its right to collect the amount left owing on the loan and/or promise not to report the default or repossession to credit bureaus. Try to get the dealer to agree not to report negative information to credit bureaus in return for your voluntarily surrendering the car. Negative information (such as a surrender, default, or repossession) will appear on your credit report for seven years, and will affect your ability to get credit in the future.


Can your car be repossessed after filing bankruptcy if you are up to date on payments?

On the surface, no. As long as you have not defaulted on the loan contract, there is no reason for repossession. The lender wants your money, not your car.