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If you are in default and the company has agreed to a monthly payment but won't submit it in writing can they still repossess the car?
Wiki User
∙ 18y ago
If you do not make the payments agreed to in the contract, on time, the answer is yes. if they agree to accepting a payment get it in writing ,then you have them.otherwise your screwed they will lie and tell you anything to get the car If it ain't in writing it ain't no agreement.
Wiki User
∙ 18y ago
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In Oregon if you make a payment on your loan can they repossess 2 weeks later if the payment only brings the account from 90 to 30 days past due?
READ your contract. IF you are in default, they can repossess.
Can they repossess your car the day after they receive a partial payment?
As long as you are in DEFAULT of the contract, the lender can repo the collateral.
How long does a creditor have until they repossess a vehicle?
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
Can a lender repossess a vehicle if you send less than the asked for monthly payment?
AS long as you are in DEFAULT on the contract, the lender can repo the collateral. Usually that also means have full coverage ins also. Read your contract again.
What circumstances other than overdue payment permit a creditor to repossess collateral?
The answer to this question depends on your contract terms. Usually, a contract will spell out what constitutes a default. The contract should also say that if you default, they can repossess the collateral.
If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
Can a bank report a car stolen if in default of payment?
YES, IF YOU CLAIM NOT TO KNOW WHERE IT IS. If you call the bank and say I dont know where the car is its gone, they are going to tell you to report it stolen. If you stop making payments on it then they will repossess, if there is no car to repossess then you are still responsible to pay the monthly payment car or no car If you stop paying and there is no car to repossess then they at that point can take legal action against you. I dont know if its reported stolen but take my word for it you will pay somehow.
If a car payment is due on the 14 but a payment will not be made until the 29 can the dealer repossess the car in Georgia?
YES, if you are in default of the contract, the collateral can be repossessed. Read your contract again.
How long does a loan company have to repossess your car in Maryland?
Legally, your car could be reposessed after one missed payment. The terms of your contract cover default. Most will not repo your car after just one missed payment, but they could. I would certainly suggest attempting to work something out with the bank.
Would a finance company repossess your car if you only have three payments left but are more than 30 days late?
Yes, they will repossess if you have only one payment left.
What is the time span of a late payment until your vehicle will be repossessed in the state of North Carolina?
As many as your finance agreement specifies.
If the dealer accepts partial payment can they still repossess your car?
Yes. Once the lending agreement is in default the lender may take whatever action they choose in recovering the monies owed. It is a misconception that by making a partial or token payment the creditor will not be able to assert their legal rights. The lender can accept the payment, still repossess the vehicle or pursue litigation.
