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Repo Question

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boling4

Junior Member
What is the name of your state? Oklahoma

This is for my husbands friend that is really freaking out over this. He bought a new truck last year from Dodge on that zero down, zero percent interest thing. Well, he changed job around December and since then he's been late on the payments. Never more than 10-14 days. He now gets paid once a month with an advance on the 15th of 500 dollars. His remainder is on the last day of the month.

He pays online around the 3rd of the month, (or after his paycheck has cleared the bank which could be the first or second as well). His payment is due on the 24th of the month. He starts getting calls from them on the first of every month. One collector told him that they were tired of the late payments and they were just going to come and get what belonged to them. Per his loan agreement, it states that they reserve the right to repossess the vehicle when it goes past thirty days of a payment due date without payment.

So, the question here, is this right? This man is worried that they will come get his truck and leave him afoot. He's tried to set up automatic payments for the 3rd of every month, but they refuse to do that. He's checked his credit reports and they all show that he's never been late on a payment. I don't get that part either.

But anyway, thanks for any answers you have on this.
 


JETX

Senior Member
Clearly, they can say anything they want. However, if the contract includes the provision that they cannot repossess unless 30 days, then the written contract 'protects' him from their verbal claim.

As for credit reports.... would he feel better if they were to report each of his late pays?? Tell him to quit complaining and accept their lack of accurate reporting.
 

boling4

Junior Member
Thank you for your quick reply. I think he's just being too sensitive on the issue as well. Again, thank you for the quick reply.
 

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