Can my truck be repossessed for late fees accrued during the loan term afterI’ve made the last last payment?

UPDATED: Jan 21, 2011

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Can my truck be repossessed for late fees accrued during the loan term afterI’ve made the last last payment?

I only owe late fees that occurred during the 72 month loan term ($4500). They say they legally did not have to notify me because the loan originally ended at 60 months but accepted payments for 1 year more. It was repossessed 1 day after I made my last payment on the loans agreed amount.

Asked on January 21, 2011 under Bankruptcy Law, Texas


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

Answered 12 years ago | Contributor

So wait: they allowed a modification of your original contract to accept payments?  Was it is writing or orally?  And they did not notify you of any additional fees that were due and were these late fees for the extra 12 months?  I would seek legal help in your are on this matter.  Bring your original loan agreement with you and any and all letters or other paperwork received from the loan company.  Something does not sound right here and I would highly doubt that any Judge would allow this to go down the way it did without either letting you have the opportunity to pay the late fees.  I would even try the argument that there were no late fees at all that were incurred.  Instead the contract was extended by their agreement so no payments were considered "late" here.  Good luck.

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