0
What circumstances other than overdue payment permit a creditor to repossess collateral?
Wiki User
∙ 18y ago
The answer to this question depends on your contract terms. Usually, a contract will spell out what constitutes a default. The contract should also say that if you default, they can repossess the collateral.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
What is a back payment?
A back payment is an overdue payment from a debtor to a creditor on money owed.
Someone can repossess a car after being one day late if they want to but how long overdue is more typical in New York before they repo?
30-60 days depending on the lender and your account.
Is overdue an adverb?
No, the word overdue is not an adverb.The word overdue is an adjective.
What is a overdue account?
By that it means overdue as in you have to pay to stop it from being overdue so basically its expired why whats overdue because it depends
How do you use overdue in a sentence?
The library charges a fine for each book that is returned overdue.
What is another word for long overdue?
nonshort overdue ;)
Do you use the hyphen on long overdue?
long-overdue
What is a sentence for overdue?
The library fined me for returning my books overdue.
How do you tell a customer that their account is overdue?
Say "Your account is overdue."
If a dealership assigns a car to a finance company and the finance company says you don't owe them can the dealer repossess?
If the finance company has been paid in full, then why would the dealership (or the finance company) want to repossess your car? If the loan hasn't been repaid and is long overdue, then the dealer and finance company will probably decide who actually repossesses the car. Either way, it's up to them, not you. Best thing to do is check the fine print in your loan agreement (which you signed when you bought the car) and see what it says about overdue payments, repossession, etc. If you've lost it, call your dealer and ask for a copy.
Can a bank go into your checking account and take money out If I am overdue on credit card payments?
It depends. If:you have a monthly loan repayment agreement with the creditor wherein the creditor automatically deducts your monthly payments from your savings account oryou have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the creditor reg. the sameThen, the creditor can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the creditor cannot deduct any money from your account without intimating you.
How do you make sentence with overdue?
I received a letter saying my bills were overdue.
