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Read your contract. It likely says that anytime you are in DEFAULT, the collateral may be repossessed. That means ONE (1) day. NOT months, weeks or payments. LENDERS AND BANKS ARE TAKING MANY CHANCES IN THIS ECONOMY.

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Q: How many payments do you have to be behind before they can repo your vehicle legally?
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Related Questions

Can a car be repossessed if you are two payments behind?

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


How many payments in the state of Texas can you be behind for repo?

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


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

ONE day.


Can Ford deactivate the on board computer if you are behind on your payments?

No. They can, however, repossess your vehicle


Can vehicle registration be denied if you are behind on payments?

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


Can I trade in my car if I am behind on payments?

You absolutely can trade in your vehicle even if you are behind on your payments. When you trade a vehicle in the dealership you are purchasing from pays off your previous loan in full, so being behind on your payments will not affect anything other than the total amount due on your car. Of course when the new dealership runs your credit report it will probably reflect that you are currently behind and will also show how many months you are behind.


What causes the repossession of a car?

If you do not want your car repossessed, then you need to keep up with the payments on your car. If you are behind on payments, then your car could be taken away from you legally.


In Georgia How many payments do you have to be behind before they can repossess your car?

oiuo


How many payment do you have to be behind before they can repossess in the state of MN?

It depends on the terms of the contract. Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.


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

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.


How far behind on a auto loan before they repo the auto?

3 payments


Can a bank sell your vehicle the day after it is repossessed in Alabama?

Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.


Can a bank repo your car before notifing you before they come get it?

if you are behind at least 2-3 months behind in payments then they can come get it whenever they please


Can a loan company turn a vehicle that is behind on payments into the police as stolen?

HECK NO, they have lots of legal remedies but that is not one of them.


Can your car be repossessed if there is not a lien on your car you were not behind on your payments?

If you have no lien on your vehicle then no one has a legal right to repossess it. If you're not behind on the payments there would be no reason for the lender to reprocess the car in the first place. It is hard to believe you have a loan on a car without a lien. The car stands behind the loan. If there's no lien on the vehicle then the car is not involved in the loan and cannot be repossessed.


Before a car can be repossessed doesn't it have to be behind in payments by at least two months?

Nope.


Can your ex have your car towed ifi am behind on payments?

Not directly (at least not legally). She could obtain a court judgment against you and have your assets seized.


How many days do you have to be behind in your payments in New York before they can repo your car?

As soon as you have defaulted on the loan, a creditor can repossess your car. So 24 hours after you have failed to pay, they can repossess your vehicle without notifying you.


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.


When can a car be repossessed in Texas?

In most instances when you get behind on your payments. The exact details of when the lender will repossess the vehicle is listed in the contract you signed when you took out the loan on the vehicle. Read your contract with the lender.


My payments is behind but I want to trade it in. what dealership would take it?

I dont see why not. The dealership gets their money from the company that financed the car. You arent paying tge dealership, you pay the financial institution. Problem is, if you're behind on payments, that will not help you to get another vehicle.


I was legally parked in a parking space and a vehicle pulled up behind me and parked not in a parking space and i backed into her who's fault is it?

It is your fault.


Can your mortgage company harass you?

It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.


If your car is stolen can but your car payments are behind can you file a claim?

Yes, you can.If the insurance company does declare the vehicle to be a "total loss" after a short period, payment will be made by them for the value of the vehicle.However, the insurance company considers your bank as the "legal owner" and you as the "registered owner" as you both are owners of the car.Since you bank legally owns the car and has the title, they will insist on paying them first and if there's money left, they'll pay you.That's where your missed payments might catch up with you.


Could you lose your home if you are behind on payments and your car rolls down hill into it?

Of course YOU WILL LOOSE YOUR HOUSE IF YOUR BEHIND ON PAYMENTS.