My ex-husband is almost 3 months behind on his vehicle payments. The loan is through a Credit Union in North Dakota.
Does anyone know how long before the vehicle is likely to be repossesed?
2007-07-10 06:29:33 · 10 answers · asked by working gal 3 in Cars & Transportation ➔ Buying & Selling
He had better call his loan officer and set up something.. I have hurd the repo-man comming a snaching up a car, with only being 3 months behind... I also was told, they may also take the stuff you have in the car... you may never get that stuff back......
Also depending on your agreement contract, if the contract says, the car can be repossed may give a limit.. I have hurd some contracts if your late 1 month, they can repo-it
2007-07-10 06:33:13 · answer #1 · answered by Jennifer @---'--,---- 3 · 2⤊ 0⤋
It would be better to call the loan company and explain your hardship and work something out, see if you could get by on just paying the interest for now and putting the principal at the end of the loan, they get their profit and you get you grace. If this doesn't work, then you may consider what they have to do to get what belongs to them and any means necessary they can use, such as a tow truck. I know this is a hard thing, but it may be much easier on you if you give it back and find a cheaper car to get around in, at least you will be able to sleep at night and not worry all day about whats next. Try looking at what you are spending you money on and see if you can do with out, or see a credit counselor for more expert advise
2007-07-10 06:51:39 · answer #2 · answered by mr.obvious 6 · 0⤊ 2⤋
If the loan is 2 months or more behind, and he has not been in contact with the credit union, most likely the car is out for repossession as I type this. If the car is at an address that they credit union has, he is going to walk out and find an empty space where his car used to be. If he has skipped out on the loan, they will find him, it just may take a bit longer.
I do not know why you are concerned, unless you are also on the loan. If you are, you are as liable for the payments as he is. Even if your divorce decree says that he is to make the payments, if your name is on the loan, you are liable. The credit union can garnishee your wages, and this will seriously harm your credit rating!!
If your name is on the loan, contact the credit union TODAY, and see what can be worked out to save your credit! Most credit unions will work with you.
If your name is not on the loan, he is your ex husband, and you have no reason to be involved at all!!
2007-07-10 06:40:07 · answer #3 · answered by fire4511 7 · 1⤊ 2⤋
They may be planning a repo as we speak. Send in a payment to show good faith or you will wake up to NO vehicle.
2007-07-10 06:32:58 · answer #4 · answered by Ghostly Ghost! 3 · 2⤊ 0⤋
any day now.
If you are also on that loan, you should start making the payments and get the car back, it's bad enough to have late payments, but far worse if there is a repo.
2007-07-10 07:18:21 · answer #5 · answered by jay 7 · 3⤊ 1⤋
They are probably getting close, but I have seen them take as long as six months. It depends on how easy the car is to find.
2007-07-10 06:34:28 · answer #6 · answered by Anonymous · 2⤊ 0⤋
i think its about 3-4 months till it gets repossesed.
2007-07-10 06:34:46 · answer #7 · answered by Tyrell H 1 · 0⤊ 2⤋
He was good 2 get that far behind, some companies lets u go 1mo., some lets you go 3 mos., but it all depends on a company, round about the 6th mo. get ready. but seriously, he needs 2 make a payment, because they follow u everywhere, STORES, WORK, ETC.
2007-07-10 06:42:50 · answer #8 · answered by missnubooty 3 · 2⤊ 2⤋
It'll get repo'd very soon.
2007-07-10 07:57:31 · answer #9 · answered by Anonymous · 3⤊ 1⤋
I'd guess they will give him 90 days before they tow it.
2007-07-10 07:27:51 · answer #10 · answered by Scott H 7 · 0⤊ 4⤋