If a car is 4 months behind, and you send a big lump sum, will they still repo car?

Answer 1

don't just "send" anything. You must first speak to the creditor. Inform them of your intentions ie.. paying it all off or getting caught up. Sometimes these things go into "repo" status and cannot be taken out unless the entire loan is paid. Contact the creditor before it's too late and you wake up and your car is gone.

Answer 2

No. They will stop the repo process. I had this happen once. My car was in the system for repo and I sent in 3 payments at once and they took it out of repo status.

Answer 3

i would call the lein company and speak to someone that you can verify over the phone that the payment has been processed. then they will remove the car from repo status. trust me, they want you to have the car, because if its repoed, you are less likely to pay on it, and they are out their money. so if you send money, they should set it all straight for ya

Answer 4

It depends if this is your first delinquency. If you keep being late for months, then ontime for months, and then late again... the lien-holder can feed you a line of BS by telling you that if you have a payment in the overnight deposit box before 12am, they won't repo your car.

Trouble is --- it's been known to happen and they just wanted the last red cent out of you before getting their property back.

Answer 5

If you finally contact the lender and talk to them, they will tell you what steps are adequate to stop the repossession. It would depend completely on the lender.

Sometime the tow truck driver is authorized to accept monies when he comes after it, but that is most often the full amount owing, plus his costs for coming, so it's best to call and talk to the lender before that happens.

Answer 6

No, they will not repo if you get your account up to date.