They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.
Yes, late payments on mortgages can be reported. The chapter 7 discharges all unsecured debts, except for student loans, child support and certain taxes, and any balance due on secured debt after the collateral has been surrendered and sold. If you reaffirmed the mortgage and failed to make payments during or after the chapter 7, that can be reported. Late payments can also be reported. Many states prevent penalties for late payments if the payment is made within a certain number of days, but they can still be reported as late if not made on or before the due date.
The lender CAN repo when you are 1 (one) day late.
by law they can repossess your car if you are 1 day late. However, your best option is to get professional help.
You can be up to two weeks late and not be pregnant but to be safe you should take a pregnancy test after you are seven days late.
once you are 90 days down they can start with a foreclosure.
One day.
I would say yes, if you ask and if you haven't asked for one before. I asked for one and got my late fee waived recently. It does depend on the situation though, such as if you are behind on payments, how many days past due...etc.
ANY LENDER, by law, can reposses your car if your 1 day past due! There is no stopping them. You need to act fast before it is too late.
Most lenders will begin proceedings to reposses once payments reach the 90 day late period. This does vary from vendor to vendor however.
Between 7 and 10 years