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If you make one payment when payments are behind can this stop the repossession?
Wiki User
∙ 14y ago
Check your loan contract, but in most cases (99.99%) if the payment does not represent the total past due amount, or if you do not have arrangements with the lender setting asside repossession actions in lieu of payment arrangements, no; one payment toward a past due balance will not stop or delay repossession of the vehicle.
Wiki User
∙ 14y ago
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What are your monthly payments?
Monthy payments are payments you make every month, like a house payment, loan payment, water, electric, gas (for heating), phone, insurance if you pay monthly, etc.
Is it better to have a repossession or delinquent payments on your credit report?
Although late payments (especially those over 60 days delequint) will have a strong negative effect on your score much like a repossession, the repossession will have a more severe, long-term negative effect than a late payment. Late payments dilute themselves relatively quickly as time passes - an initial 30 day late will hurt your score by about 50 points, but after a year this will diminish to about half, and will continue to do so over time, whereas a repossession's effects will take many more years to diminish. Also keep in mind that in the future, whenever you wish to purchase a new or used car on credit, you will have to disclose your repossession to the dealer. This may hinder your ability to attain such credit. If you feel you are unable to make a scheduled payment on your automobile, call your creditor and see if you can arrange a new payment plan. Repossession is a costly procedure and creditors would like to avoid it if at all possible. Communication is key - it never hurts to ask for assistance. Hope this helps!
How far behind do the payments have to be before the lender can start repossession?
READ your contract. When you are in DEFAULT, they can repo. Legally only one day, but most lenders will work with you if possible. to whom it may concern, I co-signed for someone and they coundn't make the payments. I got laid off and i couldn't make the payments. I am now currently working and i don't want to lose the car i could pay the three months car payment. could the car dealer wait for two more weeks until i get paid. the car is helping me to get to work. Can they understand the situation?
If you co-sign on an apartment and the leaser doesn't make payments can they take your home that you own for payment?
no the co-signer will have to make payments or they will be removed from residence.
Why is it important to make payments on time?
If you fall behind on payments you may often receive late charges.
What happens when you get call regarding repossession but no letter after making a payment?
One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.
How can you prevent the repossession of a car?
The best way to prevent the repossession of a car is to pay your monthly note on time. If you are unable to make your payments as scheduled, you should contact the lean holder and make other arrangements. If you at least make some payment, many lenders are willing to work with you.
Can a bank still repossess your car if they said they would cancel it and you have made payment arrangements to get current?
If you continue to make payments as agreed, on time, you should be safe from repossession.
How do you get my car back after repossession in Louisiana?
Make your car payments.
Is a lease repossession the same as a purchase repossession?
About the same. Don't make your payments and they will come get it. Then you still owe the difference as stated on the contract.
How late on payments do you have to be before your car can be repoed in Arizona?
Depends on your finance agreement. Most say that after you miss a payment it can be repo'd. There really is no state mandated time limit before repossession can occur. Best thing to do is make your payments and that way you don't have to worry about it.
What can you do if you cant make your car payment and any future payments?
what can you do when you cant make a car payment what can you do when you cant make a car payment
How do you findout if your car is in a repossession list?
Call the lender you make your car payments to and ask.
What are the consequences of not making car payments?
If you do not make car payments you will default on your loan or lease. It will ruin your credit and end up with a repossession.
What is involved in a Repossession of a vehicle in Tennessee?
In Tennessee, a truck or car finance company can hire a repossession company to take your vehicle if you do not make payments and are in default. They are not able to break into a locked garage to take your vehicle and they cannot forcibly remove a person from behind the wheel of the car.
If you are a month behind on rent have been in contact with the landlord Can he still evict me if I make the rent payments current?
If he accepts the rent he cannot evict you for non payment, but could ask you to leave based on constant tardiness of payment. If he doesn't accept the payments this means he is evicting you.
If you cant make your full car payment does the lender have to accept what you can pay?
No, but if they accept any payment, they cannot begin the repossession proccess
