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I've been 30 days late on my payment several times then when you I was 10 days late the Credit Union repossessed me car if they allow the late payments doesn't that create a new contract?
Wiki User
∙ 14y ago
No. That is ridiculous. you are talking about a credit union, which like a bank, will never turn you're payment away, even if its late. the contract, no doubt, states that you have a grace period for payments, that grace period ends on your monthly due date for payments. it also probably states the you would make the payments on time. and you are always allowed to make payments whenever you feel like it, but if its too late too many times, they have the contractual right to repossess the car. once you sign that contract, that is the contract, the only thing that would make it null and void, is if you had made your payments on time all the time and they took the car anyway. then you could file a lawsuit against them and get your car back and probably anything you paid if you knew what you were doing and maybe end up with a free car. but you went back on your end by not paying on time so they've done nothing illegal or unethical. and there's nothing you can really do except try to work with the bank. i wish you the best of luck.
Wiki User
∙ 14y ago
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What has to happen before a creditor can have your care repossessed?
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.
If you have been late on payments several times but never sixty days past due can car be repossessed?
You would have to read the contract to see if someone can "legally" repossess it. But ultimately, there is someone, somewhere who makes a decision. This person can continuously let is slide, or they can just get fed up one day and take, or have someone take your car. They also know that if you cannot afford payments then you will definitely not be able to afford back payments, penalty payments, and current payments all at the same time. Nor, can you afford an attorney.
how much time can go by before a car can be repo?
How long you can go before your car is repossessed depends on several things. Generally, as soon as you default on your note, your creditor can "repo" your vehicle. The definition of default may depend on your loan contract, but usually just missing one payment can qualify. It is best to communicate with your creditor before you miss a payment to work out other terms, and avoid having your vehicle taken from you.
Where can I find a calculator that helps me determine how much I can afford on a car payment?
Yes there is. There are several sites on the internet that have calculators that can help you determine if you can afford the monthly car payments. They will also be able to tell you the in-tress on the payments.
Can I made payments to the IRS online?
You can make payments online quite easily to the IRS. The IRS has provided several easy to use payment options now so it is easier than ever to pay for taxes.
What are the benefits of having a bimonthly mortgage payment?
Actually, there several benefits of having a bimonthly mortgage payment. One of the benefits is for example the faster pay-off of the loan. Another benefit would be less total payments for the loan - mainly because of less interest payments due to the faster pay-off.
Where is the best place to get calculation mortgage payments?
There are several reputable online sites. If you look in online you will find several mortgage calculators and mortage payment generators. I would recommend using several differnet sites to get a accurate price. Good luck!
Where can IRS payment plans be made?
The IRS offers several options for payment plans. The IRS offers online payments by credit card or electronic funds withdrawal from bank accounts. If you aren't comfortable making payments online, you may write and mail checks to the US Treasury Dept. Visit irs.gov payment options page for further help regarding payment plans as you will have to enter in your personal information to acquire details on above actions.
What is the process to estimate car payment in finances?
There are several factors that influence the amount of payments, including the amount of payments you plan to make and the overall cost of financing. There are several repayment calculators available for free online use, such as this one. It may help answer your question. http://www.strattonfinance.com.au/car-finance/calculators-tools/repayments-calculator.aspx
What steps can be taken to avoid the legal process of distraint?
Steps that can be taken to avoid the legal process of distraint is to pay the rent every month without elapsing on payment. When several payments are missed, the landlord can seize property to sell for payment of the missed rent.
What is Cybermut payment system?
Cybermut is a payment service offered by French banks like Banks and Crédit Mutuel federations, Banks CIC Group or OBC Bank. The service allows payments to be split into several parts. It comes as a plugin for VirtueMart2.
If you are behind 1300 and you offer them 1500 to get your car back and continue making payments can they refuse?
READ your contract. It likely has "right to accelerate balance due" clause. Just as you have the right to pay the loan off early, the lender retains the right to call it due early. This depends on several factors, your payment history,if you are in default, ect. So, YES, they could refuse.
