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What can you do if you lost your job and your car was repossessed about 2 months after you purchased it?


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Wiki User
2004-08-27 13:51:20
2004-08-27 13:51:20
Pay it. negotiate with the lender for reduced payoff.The lender can get wage garnishment.ect. They will hound you till you pay.

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Maybe, if you have the original, but, it is ultimately up to the bank.

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You can be sued and your car repossessed.

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About two months after one stops paying for the vehicle.

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A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.

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Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.


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