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If you are threatened with a repossession can you pay the balance before they repossess the car?
Wiki User
∙ 8y ago
IF the lender accepts it you can.
Wiki User
∙ 8y ago
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How can a repossession with a zero balance affect a credit score and can it be removed?
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
Can auto repossession be negotiated?
The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.
How many payment do you have to be behind before they can repossess in the state of MN?
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.
How far behind on payments can you be before santander US can repossess your car?
Typically when it comes to car repossession, a customer has to worry about their car being taken when they have missed three payments. Sometimes repossession can be held off by just contacting the company and reassuring them they will get their money.
Do Alabama repo companies have to notify you before repossessing your vehicle?
The state of Alabama is a self help repossession state, therefore a repossession agency is not required to notify you before they repossess your vehicle. Repossessors are under various state and federal laws and regulations and are prevented from breaching the peace among other things.
Does the bank have to tell you they are going to repossess your car.?
Yes, the bank must tell you that your vehicle is being repossessed. The bank will usually try to reconcile the debt before the repossession takes place.
When filing for bankruptcy and including the car how long is it before the creditor collects the car and how does that work?
The loan company can repossess any car that the payments are delinquent on. Your BK does not prevent repossession of your car.
When can a bank reposess a car?
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.
How many days you have to be behind before they can legally do a repossession in Arizona?
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.
When can a lender repossess your car?
Each lender will have different time periods they will allow before they send out an order for repossession, and their terms will usually be stated in the contract which you signed for your automobile loan. Technically, they could send out an order for repossession the moment you're declared delinquent on a payment, but most will usually wait at least a month before they take this course of action.
How long before they can repossess you car in Virginia?
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.
How many times can you be late for a car payment before it is reposessed?
Answering "How many times can you be late for a car payment before it is reposessed?" by law they can repossess your car when your 1 day late- there is no law against that! However, your best option, would be to contact CAR HELP USA. They stop repossession, get your payments up to date, lower interest rates, lower your monthly auto bill, help with repossession, and so on. They helped me get a car back from repossession in the past! Do something before the problem just gets worse.
