Legal Question in Credit and Debt Law in Virginia

VIrginia Reposition Laws

I was 2 months behind on my car and they took it last night. We have the money to pay the late payments but the bank is now telling us that we have to come up with the full amount within 10 days. Why cann't we just bring it current? How can I get it back without paying the balance on the loan?


Asked on 9/10/08, 11:52 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: VIrginia Reposition Laws

The lender is not required to accept your offer to bring the payments current in order for you to get the car back since you're already in material breach of the agreement by having fallen behind in your payments.

You can only get the car back without having to pay the full balance due on the loan, if you somehow can convince the lender(your bank) to agree

to such an arrangement.

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Answered on 9/10/08, 2:27 pm


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