answersLogoWhite
Ask
Repossession
Cadillac CTS
Cadillac STS

How far do you have to be behind on your payments to legally repo in Michigan?

242526
Answer

Top Answer
User Avatar
Wiki User
2015-07-15 19:30:53
2015-07-15 19:30:53

Legally, ONE day. As long as you are in DEFAULT of your contract, the lender CAN repo the collateral. Read the contract for more on DEFAULT.

1
0

Related Questions

User Avatar

Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.

User Avatar

if you are behind on payments then yes they can

User Avatar

Look at the contract. It may have verbage stating if you are in default on 1 note, you are in default on others. If so, yes. It's legal in Michigan if the note allows so in the default section.

User Avatar

The repo man will tell you that, but no it is not true.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.