Best Answer

2 choices here.

  1. 1. Call the lender and tell them you dont want it.
  2. 2. Do NOTHING.

Same results either way.

Wrong the result is not the same by not taking action. Remeber you received a loan. The company didn't by a motorcycle they loaned you money. In the case that you do not want the bike back then let it be sold at auction. More than likely you will have a remaining balance which you will still need to pay to get you credit in some what good standing. Make sure and contac the lender and let them know what you want to do.

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โˆ™ 2015-07-16 18:17:46
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Q: If someone has not made a payment on a motorcycle for three months and it was repossessed what should they do if they do not what the cycle back?
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Related questions

How much time in the state of Massachusetts do you have until your car is repossessed?

Three months of non-payment

Can furniture be repossessed if payment has not been made in 6 months but you start back making payments?

Yes, furniture can be repossessed if you start making payments again after 6 months, especially if the missed payments are not caught up. The creditor can refuse the payment if court proceedings are already in progress.

Can a motorcycle be repossessed if you haven't made payments in 6 months and then started making payments again?

Technically you breached the contract with the lender if you did not make payments in 6 months. They actually have the right to NOT accept further payments from you. So yes, it can still be repossessed.

What has to happen before a creditor can have your care repossessed?

A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.

What is the average time limit of non-payment of a vehicle before it gets repossessed?

Depends on the company. Average 2-6 months.

I was two months behind but still pay a payment every month. can the car still get repossessed?

If they are accepting your payments, they probably won't take your car.

Late on your car payment by 10-15 days once car was repossessed Asked the company why they took car they said had not rcvd that months payment and no wk. Can this be done?

Yes it can be done,read your loan agreement.

Can a car be repossessed one day after a payment was made?

Sure it can, if that payment was not enough to fufill your end of the contract. A car wont be repossessed if it is only a month behind. If you are five months behind, and make one payment, you are still behind... even the next day, when you are only four months behind. One payment may not catch you up. When you purchased the car, the deal was, likely, that you get to drive the sellers car, (seller still owns it till the final payment is made), and the seller gets money from you at stated time intervals, likely once per month. If you broke your end of the deal, you no longer have a right to drive the car owned by someone else. Make those payments on time, then you need never worry about the repo man.

I am wondering about getting a motorcycle loan. I do not have a good credit score.?

If you have a stable work history of at least 18 months and a high down payment, you may be able to get the loan.

When will your car be repossessed?

About two months after one stops paying for the vehicle.

How many days does a vehicle have to be past due before it can be repossessed?

three months

What can happen if you havent paid your car in 4 months?

You can be sued and your car repossessed.

How much verbal abuse do you have to take from the bank that repossessed the car?

they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion

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


What age can you get your learners for a motorcycle?

15 and 6 months

A used motorcycle is priced at 3438 If you borrow the money for the motorcycle your payments will be 165 a month for 24 months?


How long before a vehicle can be repossessed?

This will usually be stated in the contract you sign when financing the vehicle. Some places, especially the "Bad Credit/No Credit" lots will attempt to repossess in as little as one day after payment is due. I don't see any financier letting it go for longer than 4 months with no payment be for they file for repossession.

Will your car get repossessed if you have missed payments with Black Horse for two months?

Maybe, by Fedral law your car can get repossessed if you are ONE DAY past due on your car payment. I know many repo agents and they have a saying "Support your local repo man-- miss two payments" I wouldn't hold off much longer to pay them. You should call them and try to get a deferment or two.

Im 6 months pregnant can you ride a motorcycle?

I wouldn't.

How old do you have to be to get your motorcycle license in nsw?

15year and 9 months

Can they repo a leased car 2 months before the end of the contract with payment schedule in place?

READ your lease. The lender can repo as long as you are in DEFAULT. As long as there is money owed on a contract, the collateral can be repossessed IF the contract is in default. Subject to some state guidelines.

What can you do if your mortgage payment is 2 months late?

call the mortgage holder and make payment arrangements

What happens if I don't pay for my car?

Usually you can miss one payment and they will just tack it on to the next months bill with penalty and late charges. If you continue to miss payments they will take your vehicle away from you and it ruins your credit.

Do you have to have a learner permit before you can get a motorcycle license in VA?

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You cosigned a loan and your daughter has not paid the payment for 10 months Can you take her to small claims court to sue her for non payment?

If you made the payment, yes.