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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...

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โˆ™ 2005-09-16 22:58:50
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Q: Is it legal for your auto to be repossessied if the payment is less than 30 days late?
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Related questions

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?

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.

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.

What are terms for net 30 payment?

Payment is due in 30 days with no discount

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.

If payment terms are payment in 60 days is that legally when payment is sent or when it is received?

When payment is received. But, most lenders offer a grace period for receipt of payments, partially for this reason. Your best bet is to give no less than three days mail time for a payment to be received.

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.

What does payment terms of 30 days DOI 60 days net mean?

In my area they mean payment is due 30 or 60 days from invoice date, respectively. -- days net or -- days DOI meaning the same thing.

What does 30 days net monthly mean?

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 does payment term CF 30 days mean?

Credit For 30 days

What means Payment terms 30 days eom?

The phrase 30 days EOM stands for 30 days End of Month. A payment term that is granted as a 30 day EOM typically has a total of 45 days for the length of the credit.

Is there a grace period with capital one auto loans?

yes there is.. it is 10 days from the due date.. but be prepared for them to call you everyday for those 10 days or until the payment is made. I was late by 2 days one time and not even 12 hours past my due date they were calling me about it.

By how much will a credit score drop if a mortgage payment is 30 days late?

When most credit scores are computed, there is no difference in type of late payment at the 30 day point. Whether it be a mortgage payment, auto loan payment, personal loan payment or credit card payment, the impact is going to be generally the same (unless one has a record of late payments). The credit score will drop from 25 to 50 points for the missed payment and it will take about a year to get MOST of those points back (two years is generally the "missed payment" cutoff for most scoring systems).

What is meant by payment term OA 30 days?

open account 30 days..

What band of premium gasoline does not contain ethanol?

These days, they all do--which makes having your plane STC'd for auto gas slightly worse than useless. If you can't get legal gas, why do it?

What is the Medicare Part A deductible for 2012?

The Medicare Part A Deductible for 2012 is $1,156 for the first 60 days. $289 per day co-payment from days 61-90 days. $578 per day co-payment from 91-150 days.

What is legal definition of business days regarding contracts in Texas?

Legal definition of "Business Days" all days excluding Saturday, Sunday, and Federal Holidays.

What is payment of goods purchased today due in 30 days called?

Accounts receivable is the payment of goods purchased today due in 30 days. It can also be called loans or allowances.

What are payment terms of AWB BL?

Payment terms include advance payment of goods and/or partial payment. In addition, a letter of credit can be submitted to the exporter of the good specifying a date which full payment will be received. This can be within 30, 60 or 90 days.