Repo

[Apolo]

What is the name of your state? FL
Our car was repossessed, we owe on it less than 1500, We had been making payments our last payment was only partial and it was done in the month of June. What should we do? Can they do that? some one told me that they could not take the car unless we were late for at least 3 months is that true? Please help

 

[Ladynred]

some one told me that they could not take the car unless we were late for at least 3 months is that true?

Sorry, not true. Technically if you're one day late, they can declare you in default and repo the car. The terms would be in your loan agreement.

We had been making payments our last payment was only partial and it was done in the month of June. What should we do? Can they do that?

Can they do what ?? If your payment was not the amount agreed upon in your loan contract, then you are in default and they can repo the car.

Now they'll sell it and come after you for the difference between what you owed and what they sell it for.

 

[Apolo]

Thanks

Thank you for replying, I will see what and if I can do anything to remedy this situation.