Legal Question in Credit and Debt Law in Indiana

Ok, I agreed to buy a car back in March, the seller signed the title over to my name, and we have a written and signed agreement that I pay them 200 a month, totaling 2600. Problem is I haven't been able to pay a lot on it. They are threating to repo the car. Can they do that? The signed document only states that a 10% late fee will be added for each dilinquent month, not that I will forfeit the car over. The title is signed over to me by them. Can they repo the car??


Asked on 10/08/12, 8:04 am

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

Yes, depending on the interpretation of your agreement, they can repossess the car. You need to contact the seller immediately and come to some understanding and arrangements or else you may lose the car.

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Answered on 10/08/12, 5:52 pm


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