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As long as the contract is in DEFAULT, the collateral CAN be repossessed. One dollar or one day. Its a GAMBLE you take when you are in default.

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โˆ™ 2015-07-15 19:12:19
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Q: If creditor has threatened to repossess if a certain amount is not paid and you have paid partial can the vehicle still be repossessed?
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Technically no. They still can but they may not know your on active duty.Servicemembers Civil Relief Act Installment Contracts. The SCRA gives certain protections against repossessions for installment contracts (including automobile leases). If the contract was entered into before going on active duty and at least one payment was made before that time, the creditor cannot repossess the property, while the member is on active duty, nor can they terminate the contract for breach, without a court order.

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Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.

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Don't you have to be delinquent by a certain amount on car payments before your car can be repossessed and what rights do you have to prevent a repossession?

If you have made no effort to contact any institution you owe money to and you have been missing payments several times, yes, they can repossess your car. That's why we sign contracts. I would meet with the Manager of the company and try to come to some agreement and then stick to your promise. Most companies don't want to repossess so you might get lucky. However, be warned, if the Manager gives you another chance you stick to it! Good luck Marcy

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What is repossession laws in Utah?

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Can wages be garnished by more than one judgment creditor at a time in North Carolina?

When a creditor garnishes your wages they can only take a certain percent. Then when another creditor comes along they cant garnish your wages to because the first one is already taking the maximum allowed.

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