How soon can a car be repossessed?

I have a car note of $343. I paid $240, leaving $103. left. It has not been 30 days since it was paid. In the past 4 days I have received phone calls at home and at work telling me that if I don’t finish that payment plus next months by Monday, they will be here Monday night to take it. Can the make me pay my next car note before it is due plus the remaining? Can they take my car if I don’t make my next payment with the remaining payment?

Asked on September 26, 2010 under Bankruptcy Law, Louisiana


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Repossession rights can be immediate upon default.  It is different than a judgement creditor like a credit card.  The repossessor must just not "breach the peace" while repossessing the vehicle.  But as for the past payments and the future payments, you are bound by the terms of your contract to purchase the vehicle.  So all that I can tell you is read the contract carefully.  You could be liable for so much more than you can imagine with additional fees.  Things may be very overwhelming t you at this moment.  Take a deep breath and go and see a credit counselor.  It will make you feel better to have someone else face your fears.  Good luck.

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