Are there any laws governing the process in car repos?
Jul 16, 2008 by krllee | Posted in Buying & Selling
I want to know does the car have to be a specific number of months behind? Can they come get your car after two missed payments even though you plan on making a payment before 3 months? Living in TN....
There are due diligence rules related to consumer loans. They can vary. Read your contract. It should have a section on default.
Usually 60+ days past due is enough to repo. For sure 90.
Also you can figure the bank is following the rules.
Gatsby216 | Jul 16, 2008
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