About how long does it take for a car to be repossessed from the time the lender makes the request?
by 
Becky Ward
ANSWERS: 7
-
Usually lenders won't repossess until the customer is at lease 30days late. Some banks will let a customer go even longer, expecially if the customer is out of state. Note that every bank is different, and the better relationship you have with them, the easier it will be to negotiate. You want to avoid being repossessed!!!!!! other wise you end up paying the left over balance when they sell the car.
-
It depends largely on knowledge of the whereabouts of the car. It could be repossessed within an hour if the repo man knows where the car is. It could be as much as several months if the repo man cannot find the car. If your lender has told you that your car is out for repo, I'd clear up your arrears as soon as possible. There are many ways of finding out where the car is and the repo agents are experts at this.
-
I have had a car picked up with in 30 minutes of sending it in for repo. It depends on the company. Legally they can repossess a day after you are past due. Most companies will give grace periods or they may have set time frame before they submit for the repo it just depends on the company
-
...well for me it was 5 days. The order was dated from Americredit the 10th and they were at my house 5 days later
-
I went bankrupt 4 months ago and 4 months prior to this I informed the finance company I could not afford payments and to come and collect the car, we had payed less than a third for it. Todays 8 months on it is still sat in my drive. We have spoken to the finance company and they said 4 months ago that they had the order to repo but still nothing. I am trying to find out at what point I could say it wasn't going to ever be repo'd If anyone has an answer please let me know
-
I have pick up autos in 30mins or 1 year you can run but you cant hide
-
what id they have never sent a formal request to you by mail? anyone have experience dealing with mercedes benz?
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC