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How many payments do you have to be behind before they can repo your vehicle legally?
Wiki User
∙ 13y ago
Read your contract. It likely says that anytime you are in DEFAULT, the collateral may be repossessed. That means ONE (1) day. NOT months, weeks or payments. LENDERS AND BANKS ARE TAKING MANY CHANCES IN THIS ECONOMY.
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Wiki User
∙ 13y ago
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Can a car be repossessed if you are two payments behind?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
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 far do you have to be behind on your payments to legally repo in Florida?
ONE day.
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 Ford deactivate the on board computer if you are behind on your payments?
No. They can, however, repossess your vehicle
What causes the repossession of a car?
If you do not want your car repossessed, then you need to keep up with the payments on your car. If you are behind on payments, then your car could be taken away from you legally.
Can I trade in my car if I am behind on payments?
You absolutely can trade in your vehicle even if you are behind on your payments. When you trade a vehicle in the dealership you are purchasing from pays off your previous loan in full, so being behind on your payments will not affect anything other than the total amount due on your car. Of course when the new dealership runs your credit report it will probably reflect that you are currently behind and will also show how many months you are behind.
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 do you have to be behind on your payments to legally repo in Michigan?
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.
In Georgia How many payments do you have to be behind before they can repossess your car?
oiuo
How far behind on a auto loan before they repo the auto?
3 payments
Can a bank sell your vehicle the day after it is repossessed in Alabama?
Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.
