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Is it possible to trade-in a car that is subjected to a repo for missed payments if you now have the money to pay those payments?

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Wiki User
2005-01-15 22:46:32
2005-01-15 22:46:32

As a rule, ANYTHING is POSSIBLE. IF you are willing to pay the price. Dont make any false statements in writing.

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Perhaps if they bought it after you defaulted or had a history of late or missed payments.Perhaps if they bought it after you defaulted or had a history of late or missed payments.Perhaps if they bought it after you defaulted or had a history of late or missed payments.Perhaps if they bought it after you defaulted or had a history of late or missed payments.

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Just make a payment. The missed payments will show on your credit report but that's not really bad if you don't miss any future payments.

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Highly unlikely after one missed payment. But if you miss three or four payments AND hide the vehicle from the repo man, it is possible.

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Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.

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In most cases a lender will file a notace of default after 3 missed payments.

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Its usually 3 months when the bank starts the paperwork and harrassing you to make payments

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Ususually in BK a house is either voluntarily surrendered, because it is not possible for the borrower(s) to keep up payments.. Or the buyer reaffirms the loan with the lender and works out a plan to repay missed payments. If your mortgage payments are current, I see no reason why the lender would seek foreclosure.

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The bank seized our property after we missed three payments.

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Not sure the case in Oregon, but usually after 3 missed payments, the foreclosure proceedings start.

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is it possible to have implantation bleeding on ninth day of your missed period

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It depends on the bank but generally one missed payment is enough to call the cosigner

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Yes, they will report the late payments to the credit bureaus which will damage your credit score, and if enough payments are missed can commence a foreclosure action on the property.

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No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.

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Different places can have various restrictions when it comes to foreclosure. However, in Florida you can miss 3 payments and then the foreclosure will start.

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If you are late on a chapter 13 payment you are at risk of having your case dsmissed. Please try to make payments on time and make payments up if you missed any due to a miscommunication.

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what is the timeline from when payments are missed to when a home goes to auction?

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Decent credit history, a steady job, a steady residence, and no delinquencies/missed payments.

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The BK trustee usually waits until two payments have been missed and then files a Motion To Dismiss. There will be a time specified (usually 30 days) in which missed payments can be made up in FULL. If the amount owed is not presented before the time expires the 13 will be dismissed without further notice. If the filing is less than 60 months the trustee might agree to meet with the party involved to discuss possible modification of the BK plan.

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That's dependent on the conditions of your loan. Realistically, they can legally repossess it after one payment is missed, if those terms are stated on the conditions of the loan.

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Seven years. However, they will have less effect as time goes by. For example, late payments over a year old do not harm your credit as much as late payments from last month. Late payments over 2 years old are generally ignored.

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means your up to date with your monthly payments in the past 7 mths (past) 1111111 (present) if you have a 2s or 3s in the series of numbers ... ie) 111231121 it means you have been behind with your monthly payment that paticular month. 1s mean paid monthly payment on time 2s mean 30 days (missed one payment) 3s mean 60 days (missed two payments) 4s mean 90 days (missed three payments)

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A default is when someone does meet the terms on an agreement. When it comes to repossession, it means they missed 1 or more payments on a loan.


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