I seriously doubt it unless you work out something with the lending agency.
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.
Three payments
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.
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.
but were behind one payment from the year before?":**** you answered your own question, didnt you? Pay them $5.00 per month on the way behind payment and maybe they will be quiet. LOL
Unfortunately, yes they can repossess your car. They have the right to take it at any point that you do not make a full payment on or before the indicated pay day. The only exception is if you have a written agreement that states you have a grace period. Otherwise there is nothing you can do about it except pay in full on time every time.
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.
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.
60% arrears will be shortly released before Diwali / Dussera.
A bank can repossess a car at any time the loan has defaulted. Many times a bank will wait until a payment is 2 to 3 months behind before repossession.
The limit is in the contract you signed. It likely says that when you are in default the lender can repossess. That means anytime you are behind at all... even one day, although most places wouldn't do that. They would rather get the payment rather than go to the trouble to repossess.
Unlimited for non-payment of of a court order. Retroactive filed against a men who didn't know he had a child, before age 18, retroactive five years, but the program is opposed by Judge David Grey Ross, Commissioner of the Federal Office of Child Support Enforcement.