Legal Question in Consumer Law in Michigan
Can't pay my truck note
I am $650.00 behind on my truck payment. How long can I keep the truck before I need to give it up? I am hoping that the credit company will give me a deferred payment plan but I don't know for sure.
Prior to the economic down turn I had great credit rating.
Asked on 10/13/08, 5:48 pm
1 Answer from Attorneys
Lesley Hoenig
Lesley A. Hoenig, Attorney at Law
Re: Can't pay my truck note
There is no definitive answer. Usually people are about three months behind before a repossession occurs, but if you are trying to work it out with the lender, I would just concentrate on that. Due to the bad market, they might be more flexible about working things out than they would be otherwise. You can also ask the lender how far behind you need to be before they decide to repossess your car.
Answered on 10/14/08, 4:27 pm
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