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Repossession

What happened if you were behind on payments and the lender offered to refinance and lower the payments and said you were approved and then repossessed the car?

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Wiki User
2005-10-21 12:08:54

Generally you would have to sign paper work if the bank had

approved a refinance agreement . In that case you could take legal

action . They could however reposses the vehical if you fell behind

again on your payments after sighing the agreement. Guess

what......... banks and lenders LIE !!!!! If it is not in writing

then there is no agreement so you don't have any recourse.

Unfortunately you learned the hard way.


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