We ran into some bad times and are a little behind on our vehicle loans. We have it up for sale but we are worried that they might repossess it before it sells.
This entry was posted on Saturday, March 13th, 2010 at 12:53 pm and is filed under Bad Credit Personal Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
The Corinthian March 13th, 2010 at 1:41 pm
It depends on the lender - a late fee will generally be applied within 14 days of payment being late. Most will work with you if you call them and explain your situation. Repossession can occur anytime, but most will go a couple of month’s.
Best suggestion is to call the lender and talk to them. If you show that you are proactive in trying to resolve, they will more likely help you out.
bethany March 13th, 2010 at 3:08 pm
Should be 30 days before it goes to your credit report. Talk to your finacing company to be sure.
dmgoldsbo7 March 13th, 2010 at 3:12 pm
10 days. But if you call the bank and talk to them most of them will give you 2 months and just add the payments to the end of your loan period. So you will just pay it at the end. But you have to call them and talk to them. I had to do it about 6 months ago. It really helped.
Blue March 13th, 2010 at 3:15 pm
Depends. usually if you miss one payment by the next due date it will be reflected on your credit, and then w/i 90 days theyll start looking for the car. My advice, park it far away from the address on the contract to stall for time.
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SnarkFish™ March 13th, 2010 at 2:23 pm
You really need to read the contract you signed. Sometimes you have 10 days after the “due date”, sometimes you don’t. If you go more than 3 months, they’ll come get the car.