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"What should I do?" Legally, you should contact the leinholder and arrange to deliver the car to a mutually agreeable location. That's probably stated in your contract. Keeping the car is only costing you money.

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โˆ™ 2011-09-13 13:04:32
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Q: What should you do if you have not been able to make payments for several months but have not heard from the finance company?
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Related Questions

Can a finance company repo your car if you are current on payments?

No...if you are completely current...and have nothing owing from previous months..again no.

Can you sue your mortgage company in your state or do you have to sue in the state they are HQ'd in?


How long does it take to repo a car in Ohio?

That depends on several things. The first is the finance company that has the note, then the recoverey company they hire to come and get the car and the last is how long it takes to find the car. It can take a day or months.

You sent a check for your last 4 months of car payments The finance company sent you a release of lien then called to say the check had bounced They just repossessed your car - is that legal?

In effect, the car isn't paid off. If you check your documentation, you will find that they can do that. If the cheque bounced, the payments haven't been made.

When can the government repossess property such as a car?

when you arent making payments for several months when you dont pay your taxes

What are accruals and prepayments?

Accruals: Accruals are those items the benefits of which has already taken by company but the payments are not yet paid or services of which are already provided but amounts are not received yet Example: rent accrued for previous 6 months but not yet paid. Pre payments: Pre payments are reverse of accruals as these are the payments which have made already but the benefits of those payments are not yet taken by the company. For Example: Prepaid rent for next 6 months.

What should you do if your payment is late 4 months and the finance company hasn't picked up your vehicle?

They will likely be by to pick it up soon. They are giving you every oportunity to catch up the payments(they REALLY dont want the car back, they want the money).

What is the shortest number of months you can get a Citi auto loan for?

You can get a Citi auto loan for shorter months if you are willing to make big payments monthly. It all depends on your finance and what a person can afford to pay monthly.

Can a finance company in Texas repossess a vehicle if one payment is missed?

Check your loan documents but they can if you are one day late. Most don't because they really want the money. Three to six months late on payments the REPO man will be looking for ya.

Can a finance company repossess your car because you lose your job?

Yes. Normally if you are 3 months behind the finance company can take back the collateral. This is a default. Remember, you signed a contract with the bank stating that you would make your payments. It's not their fault you can't pay. However, any decent bank should be able to work with you in the event you lost your job. The key here is to communicate with them and don't dodge their phone calls. If you are honest with them, you can normally buy yourself a couple of months.

Been in jail 9 months car in collection want to start making payments?

Contact the lending company.

I bought a jeep out in finance and then lost my job im on social welfare payments can my finance be brought down a small bit?

Depending on how long you have owned the Jeep you have a couple of options. 1. Say you've owned the Jeep for 20 months and have another 40 months to go. You have paid off a certain amount of the vehicle and usually the bank can readjust your loan back to 60 months of payments. This will lower your monthly payment. 2. If you recently bought the Jeep you can tell the bank your situation and they may be able to lower your payments for a determined amount of time.

How fast will a bank sue the person not making payments?

on a house, it can actually be several months. there are also programs that you can look into that can stall the process.

What if the finance company after 8 months never get their vehicle one day the driver gets pulled over by the police will they take the vehicle?

This depends on where you are.If you are in an area where it is illegal to hide the vehicle from the finance company you will get arrested, the vehicle will be impounded and the finance company notified.Added: If you have been concealing the vehicle from the creditor and at the same time not beein making payments, the creditor may well have filed a stolen vehicle report with the police.You have wrongfully deprived the creditor of their property (i.e.: THEY own it - not you). If the vehicle turns up in the police records as stolen they will not only confiscate the vehicle - you could be facing criminal charges as well.

Indianapolis Water Company Check your bill on line?

I would like to see a statement of payments for the last couple of months. And the charges.

How long do you have to make your payment before company can Repo your car?

It depends on your contract. Usually if you miss two payments the finance company (not the company that sold you the car - they already have their money) will start taking actions to repossess your car. In the UK, if you have made more than half the payments, you can (if you want) hand the keys over and owe the finance company nothing (assuming it was bought with a car loan or HP). If you get into arrears with your car finance before you are half way through your term, chances are when your car is repossessed you will still owe the finance company more money, especially if you bought a new car or if you used a dealer who tricked you into reducing your monthly payments by leaving a lump sum to pay at the end of the finance term. On a personal note, you should NEVER buy a car (or any other non essential item) on finance. If you can't afford a nice shiny new car with your own money, buy a cheap rusty one that will keep you on the road in the short term. Then put aside the payments (including interest) that you would have had to make for the car you wanted - open an e-savings account and set up a standing order from your current account to your savings account, treat it just like you were making payments to a finance company - and DON'T dip into it when you're short. If your cheap rusty car only lasts 12 months, then buy a better one when it dies (or fails its MOT) with the money you've saved and carry on saving the payments. If you were going to buy a little Ka or similar, you would probably be paying £200 a month for it for the next 4 years, with massive restrictions on the mileage you were allowed to do (usually 6000 miles a year before penalties) and at the end of the four years you would not own the car and would have paid nearly £10,000 for a car 'worth' about £6,000. If you do what I suggest after 3 years you would be able to walk into the car showroom and buy the car with cash! If you were unable to keep up the payments to yourself ( i.e. save the money on a regular basis) then you would probably have found yourself defaulting on payments made to a finance company and have lost your shiny new car anyhow.

Can my power company shut off my power if I am paying on the bill each month?

Usually you must be several months behind on payments before they can shut off power. You could potentially get several months behind while "paying on the bill each month" if those payments were so small (e.g. $1 per month) as to have no practical effect on the accumulating balance due, but this might be a judgment call and talking to them about reasons you can't pay more at this time and how to get assistance would help prevent disconnection. However you made no comment on the size of the payments you are making, so I don't know if this is your case.

How many payments in a bi-monthly for 2 years?

1 year = 12 months 2 years = 2 x 12 = 24 months. Number of payments in a month = 2 Number of payments in 2 years or 24 months = 2 x 24 =48 payments.

Can you file a police report months after a car accident?

Yes you can file it several months after it has happened. However, it will be noted on the accident report that the event occurred several months ago and when you turn it in to your insurance company they will see that and probably deny your claim.

A company borrowed 1500 It must make monthly payments of 40.50 for 42 months to pay off the loan Use the constant ratio formula to find the annual percentage rate?

company borrowed $1500. It must make monthly payments of $40.50 for 42 months to pay off the loan. Use the constant ratio formula to find the annual percentage rate

How To Increase Your Monthly Budget?

Finance Auto Loans can cause a big increase in a monthly budget. Even with decreasing interest prices, payments can run as high as $500 per month. With the strained economy, this can put a huge dent in savings and make living on a budget difficult. The best way to ensure that finance auto loans stay low is by starting off with a large down payment. Before purcahsing a vehicle, buyers should spend several months to a year making payments to themselves. By saving a few thousand dollars to put down, monthly payments can be cut in half, making budgeting easier.

Can a motorcycle be repossessed if you haven't made payments in 6 months and then started making payments again?

Technically you breached the contract with the lender if you did not make payments in 6 months. They actually have the right to NOT accept further payments from you. So yes, it can still be repossessed.

Is it true you have to be six months behind on a car payment in the state of Nebraska before it can be repossed?

Technically they can repo your car after 30 days. Depending on the finance company

How many years is the max you can finance a new vehicle?

72 months is about as long as any lender will go. However if you have to finance a car for 72 months then you are buying more car than you can afford. I never finance a car for over 36 months unless I can get 0% financing.

Can a mortgage company continue to report your debt as late after the bankruptcy is confirmed and you have continued to make monthly payments on time?

Payments in the last 12 months are reported on your credit report. The BK 7 and the previously late payments will continue to show on your credit report, but eventually your ontime payments will be the ones showing. You may be able to get a statement that the house was redeemed in the bankrupcy, but all late notices for the past 12 months and/or a notice of foreclosure will remain.