READ your CONTRACT. IF the contract is in DEFAULT, the collateral CAN be repossessed.
It can be. but generally wont be unless its your first payment.
The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.
Yes. Most lenders give customers 10 to 15 days grace to make a payment or for a payment made to post. However, by the language of most car notes, anything past a certain period of time (usually two weeks) is considered delinquent, and the balance of the loan is owed. The lender at this point is not required to accept anything less than payment of the remaining balance. And, the vehicle can be repossessed at any time to secure payment of the remaining balance.
Under Texas law, a vehicle may be repossessed even if payment was only late for 10 days. This means that is payment was due on the first day of the month, and payment has not been settled on the tenth, then, vehicle will be repossessed on the eleventh.
Its NOT a matter of HOW late, just that you ARE late. Read your contract. That should explain when you are in DEFAULT.
If you are in DEFAULT of the contract, the collateral can be 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.
READ your contract. If you are in DEFAULT of the terms, you can get repoed.
YES, making the down payment is part of the contract and you are in default on it.
That is determined by the LENDER.
Yes it can be done,read your loan agreement.
No this is a bogus fee.Don't pay it ask for a reciept for what they are trying to charge you for.
In some states under some conditions, YES. It depends on how many times you have been late, repoed, in default, the terms of the contract you signed,ect.
Yes, they can!
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.
i am late on payment for auto insurance what can i do.
Technically you are late if you make your payment anytime after the due date. The vast majority of mortgages are due on the 1st of the month. Most mortgage companies will not assess a late fee unless you are 15 or more days late. At that point the normal late fee will be 5% of your regular mortgage payment. The lender will not report the late payment to a credit bureau until you are 30 days late.
no they can't
Repossession can happen any time after a payment goes late; it all depends what the initial contract states.
It depends. What was the result of that error being made? Was your vehicle repossessed because the payment went to the wrong account? As far as "legally filing a lawsuit" you can do that to anyone for anything. Most banks will rectify the mistake by correcting the routing of that deposit and clearing the late fee if they see that the payment was received on or before the due date. However, they can tell if it was an honest error or if you are trying to slip one by on them.