2 choices here.
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.
Three months of non-payment
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.
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.
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.
Depends on the company. Average 2-6 months.
If they are accepting your payments, they probably won't take your car.
Yes it can be done,read your loan agreement.
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.
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.
About two months after one stops paying for the vehicle.
You can be sued and your car repossessed.
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
15 and 6 months
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.
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.
15year and 9 months
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.
call the mortgage holder and make payment arrangements
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.
If you made the payment, yes.