Butch, read your contract. Most say only that you have to be in DEFAULT. Sooo, your answer?? ONE DAY.
you defaulted, a contract is a contract and you have lost your trade in
Its NOT a matter of HOW late, just that you ARE late. Read your contract. That should explain when you are in DEFAULT.
Repossession can happen any time after a payment goes late; it all depends what the initial contract states.
READ your CONTRACT. IF the contract is in DEFAULT, the collateral CAN be repossessed.
The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.
Legally? One day. Some loan agreements will have a late payment period that might be ten days. Read your contract for specifics.
YES, making the down payment is part of the contract and you are in default on it.
READ your contract. If you are in DEFAULT of the terms, you can get repoed.
Read the fine print of your contract carefully. I have never heard of a vehicle leasing/purchasing contract NOT having a first payment default clause.
None ! It's up to the customer to read every part of the contract they're signing. If the company has made it clear in the contract what will happen if your payment is late, then you have no recourse for complaint.
payment late?? then its NOT on time and in DEFAULT. WHAT is not stated in the contract??? No lender is going to repo a car when only one payment is 3 days late. If you have made all the payments on time and you are only 3 days late, and they repossed your car, you need to contact the lender and see what is going on. Something is not right here.
That depends entirely - on the conditions of the contract YOU signed ! If it says your car will be reposessed if your payment is late - there's absolutely NOTHING you can do about it !
Vague, confusing question. If the LL accepts a late partial payment, he can still sue the tenant for non payment. UNLESS he writes new contract stating he will not do so.
Depends entirely on what the contract you signed says. If you are 1 day late they may be able to repossess the vehicle if that is what the contract says and what your state laws are regarding repossessions. Read your contract.
Nope... You signed a binding contract.
Check your contract for anything special, but I see no reason why they cant.IF you are in DEFAULT, YES, they can repo. no you were more late then your saying I bet. Legally, a lender may contract your vehicle for repo at midnight the day youre payment is due. Most wont, but legally they can reposess your vehicle the day after your missed payment
Read your contract. It likely says the lender can repo anytime you are in DEFAULT. Two weeks late is unusual, but they could repo when you are 1 day late.
Legally and according to the agreement you signed, there may be a grace period that is clearly spelled out in your contract. After that window of time, they can immediately seize your automobile due to non payment. Often if the first payment is late, they will seize the automobile immediately.
Late payment fees are agreed upon by you when you sign the finance contract, yes you owe the additional money as long as their addition of the fees is within the guidelines stated in the contract.
Read the contract you signed. They very well may be able to repossess the car if you are 30 days late. Depends on the contract and your state laws. Legally you have defaulted on the agreement if you are 1 day late.
Yes, and no. Yes, if you are able to get it back, I'd say go for it, but as you have no written contract, no, you can't prove anything.
If you are in DEFAULT of the contract, the collateral can be repoed.
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
yes on the late late show she said she was recording a contract with syco company.