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There is no set time when a lender may instigate repossession action. If the contract is defaulted on for even a day, in most states the lender can seize the vehicle, although it is not usually in their best interest to do so.

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โˆ™ 2006-06-19 20:05:14
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Q: What amount of time must a dealer give you before they repossess your vehicle because you heard it was 90 days?
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How soon can a car be repossessed?

Your contract most likely states that the lender can demand payment in full at anytime. This means they can repossess the vehicle after demanding you pay it off. If you are 5 days late, they could repossess it. There is no legal requirement for the lender to wait any amount of time before taking your vehicle.


Is Wells Fargo required by law to send a notice before they repossess your car?

No. Their terms and conditions were laid out for you in the contract which you signed when they financed your vehicle. If they do give notice, it's more as a courtesy, and also because they'd much rather you make your payment than to have to repossess your vehicle.


How many days must a vehicle loan be late before it is repossessed?

They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.


How many payments can you miss before they can repossess your vehicle in Texas?

Legally, only one. But your contract will tell you more.


How many days do you have to be behind in your payments in New York before they can repo your car?

As soon as you have defaulted on the loan, a creditor can repossess your car. So 24 hours after you have failed to pay, they can repossess your vehicle without notifying you.


When repo man hits another car when repossesion a vehicle?

when repo man repossess the car and was in an accident before you can get it back, what happens


Can a creditor repossess a car without a registered lien or validate title?

If the creditor is the loan holder of the vehicle a lien is already in place. The title will show the loan provider as the primary lien holder. That insures the vehicle as collateral and if default occurs the lien holder can repossess the vehicle without going to court. Except in the few states that require the creditor to obtain a replevin order before seizing the vehicle.


Should you apply for a credit increase before or after applying for a vehicle loan?

For a better chance at getting the vehicle loan, increase your credit after the vehicle loan. Increasing your credit before may reduce the your vehicle loan amount.


In Texas do they have to inform you before they repo your vehicle?

It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.


How many payment do you have to be behind before they can repossess in the state of MN?

It depends on the terms of the contract. Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.


Does the bank have to tell you they are going to repossess your car.?

Yes, the bank must tell you that your vehicle is being repossessed. The bank will usually try to reconcile the debt before the repossession takes place.


Do Alabama repo companies have to notify you before repossessing your vehicle?

The state of Alabama is a self help repossession state, therefore a repossession agency is not required to notify you before they repossess your vehicle. Repossessors are under various state and federal laws and regulations and are prevented from breaching the peace among other things.


Can a bank repossess a car before the last day of payment?

Unless it's explicitly stated in the fine print that they can't do any such thing, they have a right to repossess the moment the payment is rendered late, if they so wish. However, if you have documentation from the bank showing them explicitly giving you a deadline date, and they come to repossess before then, you may have grounds for a lawsuit. However, you would need to find out if it was the bank which had your car repossessed on that particular day, or if it was the repossessors jumping the gun and going forth with it before the date which they were specified to take possession of the vehicle.


How do you repossess a vehicle in Texas when the purchaser has sold the car to a third party before payments were made in full and are now delinquent?

Are/were you listed on the TITLE as leinholder? Do you have a written contract listing the vehicle as collateral? If no to these two uestions, you should call a local attorney NOW.


If someone bought a car from a used car dealer and they wanted to repossess the car what is the buyers rights?

The buyer has the right to surrender the vehicle before he picks it up. Or pay for it.


In Georgia How many payments do you have to be behind before they can repossess your car?

oiuo


Missed the last payment to pay off auto loan can the bank still repossess?

Yes they absolutely can and will! Don't be foolish. Pay up before you have added fees and charges or lose the vehicle completely.


You should stop before crossing a railroad grade if your vehicle is carrying of chlorine?

any amount


If you are threatened with a repossession can you pay the balance before they repossess the car?

IF the lender accepts it you can.


How long can you go without car payments before they repossess it?

Three payments


Does the bank have to notify you before they repossess your car?

I have NO IDEA, WHY look here if there is NO ANSERS


If you had the vehicle repossessed and it is listed as a charge off can they now sue you for the balance?

Yes. What happens is that they auction the vehicle. They can auction a vehicle 10 days after they repossess it, not before. They take that money, apply it to the loan. Whatever balance is left is what you are responsible for. One thing you can question, is what the vehicle is auctioned for. They have to make every reasonable effort to sell it for book, they just can't sell it for $10 if it is a $10K vehicle, if you know what I mean. There are guidelines that they have to adhere to.


How many payments can you be past due before a lender can legally response my vehicle in KY Only owing 600.00?

Depends on what the contract you signed says. In most instances if you miss one payment then legally they can repossess the car.


How long before they can repossess you car in Virginia?

The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.


How much time must the lender allow the borrower before a vehicle is repossessed?

I believe if you haven't paid in three months they can repossess your vehicle in Utah. *The state does not require a Right To Cure notice be sent to the borrower. The lender may recover the vehicle whenever the contract is in default. UCC laws apply, and the vehicle can be recovered by any means that does not constitute a breach of peace. The plates remain with the borrower/debtor.