Auto Loans and Financing
Repossession
Liens
Property Law

If your vehicle is repossessed can the leinholder make you pay the remainder of the debt in full or just whats 30 days late?

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Answer

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Wiki User
11/06/2007

It is very common to have an "acceleration clause" in a loan agreement. That would mean that upon default (or violation of specific restrictions) the entire amount would be immediately due, plus any collection costs if you fail to pay.