Legal Question in Credit and Debt Law in Maryland

Retail Installment Sales - Auto

What is the Maryland law regarding deferment of a payment on a car loan?


Asked on 2/25/00, 2:49 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Retail Installment Sales - Auto

Unless the creditor agrees, you cannot "defer" payments on a car loan. If you don't pay on time, you are in default, the car can be repossessed, and they can sue you for any deficiency after the car is sold.

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Answered on 3/08/00, 5:23 pm


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