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How long do you have before repossession occurs?


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2015-07-15 19:36:13
2015-07-15 19:36:13

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

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I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs. Answer I am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.

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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.

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The repossession stays on your credit report for 7 years.


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