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If you are making some payments but not all can they still repossess your car?In: Repossession |
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Repossession
If they are accepting payments - that will reflect negatively on them if they try to take you to court on a deficiency balance, however they have the right to demand full payment of the loan at any time and take the car if you don't pay. Also - if you are just sending in partial payments that doesn't mean they are accepting them. They need to agree to the partial payments and how long it will go on. You can't stop them from repo by sending in some money every month.
More input from FAQ Farmers:
- Yes, I have found out that if you are in default (even if you are attempting to make payments), the bank at any time, can repo your vehicle...unless otherwise stated in your contract.
First answer by Lisa Zawaski. Last edit by Lee. Question popularity: 214 [recommend question]
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