answersLogoWhite

0


Best Answer

Legally, ONE day. As long as you are in DEFAULT of your contract, the lender CAN repo the collateral. Read the contract for more on DEFAULT.

User Avatar

Wiki User

โˆ™ 2015-07-15 19:30:53
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
2.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: How far do you have to be behind on your payments to legally repo in Michigan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How far do you have to be behind on your payments to legally repo in Florida?

ONE day.


How many payments in the state of Texas can you be behind for repo?

Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.


How many payments behind will Volkswagen repo your car for?

two


Can westlake financial repo your car?

if you are behind on payments then yes they can


If your mom is a cosigner on your car and they repo hers can they legally repo mine as they are claiming mycar payments are current but your mom is 3months behind you reside in Arizona?

Look at the contract. It may have verbage stating if you are in default on 1 note, you are in default on others. If so, yes. It's legal in Michigan if the note allows so in the default section.


How far behind on a auto loan before they repo the auto?

3 payments


Can vehicle registration be denied if you are behind on payments?

The repo man will tell you that, but no it is not true.


Can they repo your car if you have fallen behind on payments because you lost your job and now on unemployment?

ABSOLUTELY


If primary borrower gets behind in payments can you repo car?

If "you" are the lienholder then yes. If you're not the lienholder or their authorized agent (e.g. a repo man working for them), then no.


Can you repo a car if you signed the loan but your ex-spouse is the only name on the registration and she is not making the payments?

You CANT legally. She could report it STOLEN if you did. Best thing to do is contact the LENDER and assure them that YOU will make the payments IF they will repo it. AND get the registration out of her name. They can do that AFTER repo. Good Luck and MERRY CHRISTMAS.


If you've been making monthly payments on your car and and you are still a month behind can they repo it?

As long as you are in default, they can repo. Try to catch up the month behind. Send $5.00-10.00, whatever.


WHAT TEST do you need to become a repo man in Michigan?

what do i have to do to become a repo man in Michigan

People also asked