I admit that I am behind on my car payment, today hit the 30 day. My car company is now telling me that if I dont return the car that they can press charges for stolen property. I do not want any further trouble and will surrender the vehicle if necessary but is it legal. And what can I do to avoid legal trouble.
2006-11-14 15:22:04 · 9 answers · asked by starbrite 2 in Politics & Government ➔ Law & Ethics
You need to get your papers out and read through them. Most car companies will just come repo it in the middle of the night. Sounds to me like you're buying a car from one of those $50 dollar a week no credit needed places. They generally are a lot tougher than a financing company like Ford or GMAC. Those two will send you a letter threatening to repo after you're 60 days late. Never heard of it being done at 30 days.
2006-11-14 15:26:44 · answer #1 · answered by shojo 6 · 0⤊ 0⤋
There is a repossession process. 30 days is not the "final straw". First you need to know the laws of your state, Second, read your automobile contract. Repossession usually occurs after 3 months or 90 days of late payment...don't quote me on that, but it's a bigger number than 30 days. The collection calls that you are receiving are usually just what I call "bully calls". They are actually trying to scare you into making your payments...today!! Read your contract, knowing the process will really put your mind at ease.... at least until you bring your account current.
2006-11-14 15:30:51 · answer #2 · answered by Lidya D 3 · 0⤊ 0⤋
Blue Steel and Lace is absolutely correct. They cannot arrest you, they can only have the car repossesed. This kind of happened to me when my ex-boyf stopped making payments. They repoed the car, and it went on my credit history. It is illegal to harass or threaten you in regards to a debt collection. Let them know you know this, and then make the payment. If they keep harassing you, keep a record of it, especially if you have an answer machine that can record it, then get a lawyer.
2006-11-14 15:41:29 · answer #3 · answered by Riley 4 · 0⤊ 0⤋
turn the car in...
i wouldn't even want to deal with a vehicle where a company lied and said "I had stolen property" they can report repro car to police but its not a stolen car because of late payments.. i would drop it off and tell them to keep their heap///
2006-11-14 15:29:21 · answer #4 · answered by cork 7 · 0⤊ 0⤋
No - they cannot press charges for late payment.
They can however, repossess your vehicle.
If they call and threaten to press charges again, tell them that they are in violation of the Fair Debt Collection Act, and that YOU will press charges if they don't stop harassing you.
2006-11-14 15:27:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I beleive they have the right to Repo it. but the legal end of it would be far down the road, only if you do not let them take it........ Pay the payment or lose the car... you will still owe the dealer money thou.....
2006-11-14 15:28:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
The entire time you have a loan for anything or credit for anything it does not belong to you but to the lender. It becomes yours when it is fully paid for. So, yes, it is theirs and they can take it. Contact the lender and explain your difficulties and attempt to pay what you can. This is best done sooner than later.
2006-11-14 15:34:10 · answer #7 · answered by auntynoall 4 · 0⤊ 0⤋
pay your bill you fool. That would be better for you in the long run if you pay the bill. If you don't it will be on your credit report and will effect you for a long time and you'll end up paying alot more money in the long run than paying the car payment.
2006-11-14 15:25:18 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Its legal. Borrow the money and pay them.
2006-11-14 15:25:31 · answer #9 · answered by October 7 · 0⤊ 0⤋