How many months past due to you have to be for an auto to get repossessed? I am having trouble with my financing company because they lost a payment that cleared my bank. Now they are showing me past due and they do nothing to find the payment. They just keep leaving the amount on my account and attaching late fees. I get nowhere when I call customer service. Each CS rep says they will look into it and then they never do. I got fed up and just keep making payments as usual.. showing one month past due. Can they repossess my auto for only one month past due? Thank you.
2007-09-13 06:43:15 · 6 answers · asked by Cupid 6 in Business & Finance ➔ Personal Finance
Just so everyone knows.. I have done all that. Shown proof, etc. It still remains as a one month past due on my account. Thanks.
2007-09-13 06:57:39 · update #1
I've seen it happen after the second month so I would be a tad more forceful on this. If you have documentation supporting your payment, submit it ASAP. If you get no satisfaction, ask to speak with a supervisor and go from there.
If you think it's a mess now, wait until you try to get your car back and they add impound charges, etc
Good luck!!
2007-09-13 06:53:24 · answer #1 · answered by Anonymous · 0⤊ 1⤋
The can and will take your car after so long of it being late, even if you continue to make the payments.
You need to get all your documents together, mail and fax a copy and then call them to confirm that it has been received, ask to speak with the officer in charge of your loan. Don't be afraid to get snappy or pushy if you have too, if they give you problems, let them know that they WILL be hearing from your lawyer. Contact a lawyer and let them take it from there.
I realize this may cost you a lot more up front to hire an attorney but it will end up costing less in the end with possible repossession and/or bankruptcy and your credit.
Some extra info I forgot to add earlier, a lot of times, just a threat of a law suit will get the ball rolling. ;)
2007-09-13 14:18:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you could go into a branch show them a copy of both sides of the check. Make sure you speak a manager at the branch and get his/her name. Then send a letter, 1 regular 1 certified to the manager and demand that unless the account is credited to the account within 10 days, you will file a complaint with the Banking Commissioner.
2007-09-14 00:26:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I agree. It might stink that you have to spend money on lawyer, but it's better than getting the car repossessed. A repossession is basically a credit disaster - a credit nuke if you will. You must avoid it at all costs.
2007-09-13 14:22:52 · answer #4 · answered by Jay P 7 · 0⤊ 0⤋
Get a copy of the the check being cashed by them and fax it over to their payment department. call them back and ask them for a supervisor and talk to them until they get it straightened out. yes they can repo the car only being a month behind. make sure you have nothing expensive in your car just in case they take it without your knowledge.
2007-09-13 13:56:02 · answer #5 · answered by Fun N Sun 4 · 0⤊ 1⤋
Show the company your proof! They can and will repossess that car.
If they don't repo it when your balance is paid off, they can charge you for that payment plus interest and fees!
2007-09-13 13:50:27 · answer #6 · answered by anikkie 2 · 1⤊ 1⤋