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Is it legal for your auto to be repossessied if the payment is less than 30 days late?
Wiki User
∙ 18y ago
It all depends read your contract. It's legal if the loan is in default. Now you need to find out what constitutes a default in your signed contract. Things like lack of insurance and other conditions usually apply that most people are unaware of. Read your contract...
Wiki User
∙ 18y ago
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Can an Auto Ins Company Charge a late fee without your knowledge and only find out when you are 4 days late on a payment?
i am late on payment for auto insurance what can i do.
I am 126 days late on my auto loan what can happen to me even if i can't make a payment right away?
If you have not a made a payment, then the company has the legal right to repo the car. Try to call the company to see if you can negotiate the terms or either ask for a deferment.
Is it legal for a car dealer to repossess a vehicle after 27 days late on payment?
Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.
How many days late on a payment do you have to be in order for it to be legal to repossess a car in Florida?
ONE....1.....uno...
What does the meaning of receive payment within 30 days mean?
It means that you have to have settled the bill within 30 days or interest charges will be applied and legal action taken.
Is it legal to reposes a car 8 days before the payment is due and five days after purchasing the vehicle?
That sounds odd, repossession is usually done when you've missed payments.
What does 31 days nett payment mean?
It's a payment term meaning: payment due 30 days from the end of the month in which the invoice is raised.
Can a bank refuse a payment on a auto loan?
Absolutely. There are other reasons other than a late payment for a bank to repossess your car. Cancelled insurance or a big drop in your FICO score. If you seem like a credit risk to your bank all they have to do is wait for you to become delinquent once and they have the legal right to default the loan and get the asset back. At that point they can refuse payment and keep the vehicle in most states. The only way is to pay off the full amount of the loan within 10 days.
Is it legal if you are in California and are going to reinstate and were told it will be 3 - 4 business days before you can physically pick up your car after payment?
Yes, it's legal. You need to allow time for processing of payment and whatever paperwork and record keeping needs to be done. Be patient. Yes,It takes them that long to get the paper work in process.
What does 30 days nett monthly mean?
It's a payment term meaning: payment due 30 days from the end of the month in which the invoice is raised. It's a payment term meaning: payment due 30 days from the end of the month in which the invoice is raised.
Is it true that if a consumer does not make the first payment in 30 days they are not obligated to the contract and can return the vehicle?
No, once the contract is signed by all the involved parties it becomes legal and binding.
What are terms for net 30 payment?
Payment is due in 30 days with no discount
