Legal Question in Credit and Debt Law in California
i keep hearing that the lender cannot repo my car because i am only 64 days behind. i missed my first payment a year ago, got behind 2 total. we have made a payment every month for the past 9 months but cannot make up the two im behind. they threaten me every month but have not taken it yet. my biggest fear is making a payment today and them picking it up tomorrow. i live in california.
2 Answers from Attorneys
Anytime you are one payment late the bank can pick up the car although usually they wait at least three months at least while they try to get to pay. Just send your payment right away, electronically if possible, and hide the car until you confirm that they got your payment.
What you are "hearing" is wrong. Most lenders will take the car if you are 30-days behind and don't make it up within six months. Under the law, though, if you are one day late, they can repo.
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