Is it legal if the bank repossessed my car and even though I’m willing to make the payments to get it back it won’t return it to me?

Get Legal Help Today

 Secured with SHA-256 Encryption

Is it legal if the bank repossessed my car and even though I’m willing to make the payments to get it back it won’t return it to me?

The bank repossessed my car. I’m willing to make the payments to get it back but they will not return the car because there is no insurance. The car has been in the shop for the last 3 months. So yes I did drop insurance on the vehicle. Willing to put insurance back on the vehicle but the bank says that even if I do and even though I am willing to make the payments that I’ve missed, they will not give the car back. Can they legally do that?

Asked on March 17, 2017 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Yes, they can do this: once you have violated the terms of the loan and they have repossessed the car, it is their car--they do not need to let you redeem it. You could have corrected the situation up to when they repossessed it, by paying all amounts then due and complying with all terms of the financing, etc. agreement (e.g. having insurance). But once they go ahead and actually repossess, it's too late: they now own it, and do not need to give it back to you, even if you are now willing and able to fix the deficiencies.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption