Read your contract. It should specify what results will happen when the contract is in DEFAULT. Legally, ONE (1) DAY in default. DONT GAMBLE. Face the facts and plan for a future based in REALITY.
TECHNICALLY AFTER ONLY ONE DAY YOU ARE IN DEFAULT OF YOUR CONTRACT, USUASALLY A FINANCE COMPANY WILL WAIT UNTIL YOU ARE 30 DAYS PAST DUE. UNLESS YOU ARE A HIGH RISK CUSTOMER, THEN REPOSSESSION USUALLY OCCURS WITHIN 15-20 DAYS. THIS IS IN Michigan
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
There is no specific time limit for a repossession in Florida. Florida law does not require a creditor to give notice before starting a repossession.
as soon as they can find it
NO, co-signor is only notified when its time to pay the loan.
The repossession stays on your credit report for 7 years.
You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.
California allows self help repossession as long as there is no breach of the peace. There is no requirement to send a Right to Cure letter unless your specific contract says that one must be sent prior to repossession.
If you mean "How long before a will is probated in court?", typically six weeks to three months.
The repossession process of a car usually takes about 6 months
The main causes of property repossession is for nonpayment of the mortgage or any loans where the property was put up as collateral. If nonpayment occurs the lend has the right to repossess.
No months. It will be more like weeks or days. In practice, you can be one day past due and the lender can send your vehicle for repossession. It might be months before the actual repossession happens; it will depend on how difficult it is for the agency to secure it.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
Between 30 minutes and 10 hours.
You being arrested has no bearing on your loan. As long as you make the payments on time there will be no repossession. The loan company does not care if you are in jail as long as they get their money.
Basically, it means last chance to pay before repossession takes place. The procedure for repossession is in progress.
Till they find it.
The car company generally has to give you notice before going through with a repossession. Also, they should give you the opportunity to pay the outstanding bill before resorting to a repossession.
im Missouri it is 10 days after repo, the title can be filed for repo by institution.
I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.
By federal law, 7 years from the date of repossession or sale or last payment. The state is irrelevant.