2007-04-10 11:46:03 · 5 answers · asked by AL v 1 in Cars & Transportation ➔ Insurance & Registration
60 days may be a bit generous in todays world. I have heard of a 30 day repo. if it is a second or third occurance.
But the answer lies in your contract. See what they say about acceleration clauses and their rights of recovery.
Just keep in mind the golden rule that banks and finance companies always use.
'The Bank ALWAYS gets the Gold'.
.
2007-04-10 11:50:57 · answer #1 · answered by ca_surveyor 7 · 0⤊ 0⤋
Legally the finance company can put out a repossession order on your vehicle the minute you are late with the payment. In reality though, they don't want to do that, and will only take the repossession step when you are not communicating with them or making any attempt to make payments. So, yes. Call them and talk to them. If it reaches that point, it will cost you even more, (the cost of finding and towing your car) and you will still be responsible for the amount between what you owe and what the car sells for at auction.
2007-04-10 12:10:02 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
It surpassed off to me. And the repo guy replaced right into a effective adequate guy, yet reclaiming it replaced right into a nightmare. as quickly as the financial corporation places out word of reposession (usually 60-ninety days) that's close to impossible to dodge it. notwithstanding....a pal of mine did this: He overnighted with a monitoring extensive type the stability due in a money order that's taken care of as money (he begged from mom and father, acquaintances, kin). He parked his motor vehicle in a distinctive region and have been given a holiday to artwork day after today. so as that they could not take the motor vehicle collectively as at artwork. as quickly as he have been given in he tracked the money order and who signed for it. noted as the financial corporation and stated he had evidence of signature, that it replaced into despatched as money, and apologized that he hadn't been in touch, that he replaced into dealing with a coarse time in my opinion. He stated he thought he may well be "close" to being repo'd so he had to confirm that that did not ensue. because of the fact the financial corporation have been given the money earlier the repo have been given the motor vehicle he replaced into secure. The financial corporation rep stated - reliable ingredient you paid via money order - because of the fact they might have waited for a examine to clean. in case you want a money order a 24hour Wal-Mart has them. in case you are able to desire to deliver in one day ask for "Early AM transport" and regardless of the fee pay it. as quickly as the repo guy takes the motor vehicle you will would desire to pay a towing fee that's so lots extra advantageous than $25 in one day fee. do not bypass close on your motor vehicle till you understand for specific the financial corporation has stopped the repo and ask the financial corporation to fax a replica or digital mail a notice asserting you're paid up. The repo can stake you out and discover out the place that's parked....
2016-10-28 09:21:48 · answer #3 · answered by hocking 4 · 0⤊ 0⤋
yes they can but you can also go file chapter 13 and they won't be able to touch it, if they do they will give you so many days to catch up on payments or they will make you pay it off.
2007-04-10 11:56:17 · answer #4 · answered by Mary O 6 · 0⤊ 1⤋
YES i would talk to them and see if i could make smaller payments
2007-04-10 11:54:21 · answer #5 · answered by amberlyn00 2 · 0⤊ 0⤋