Legal Question in Banking Law in Colorado
Repossession
how long can a car loan be in default in the state of Colorado before the bank can repossess or what is the maximum amount of time that I can legally be late in making a car payment?
Asked on 12/01/06, 11:53 am
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Repossession
Governed by contract, likely upom missing a payment by one day, but usually you have to miss 30 or 60 days. Depends on creditor and your financial/credit situation. If your iffy, they could repo immediately on default.
Answered on 12/01/06, 1:12 pm
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