Thursday, November 26th, 2009
Late payment?
madtown2306 asked:
Ok in the last 4 months I have made 3 late payments on my car which I have had for about 2 years never missed a payment and there only late by about 5 day’s would this be grounds for them to try and take the car back?
Ok in the last 4 months I have made 3 late payments on my car which I have had for about 2 years never missed a payment and there only late by about 5 day’s would this be grounds for them to try and take the car back?
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November 27th, 2009 at 7:37 am
You would need to check your original lease agreement for full details, but as far as I know, they’re not going to try to repossess unless your late for AT LEAST 30 days, and that’s only if it’s financed by some shady back-alley loan shark.
What I’m certain of is that it doesn’t even get reported to a credit reporting agency unless it’s 30 days late. This applies to mortgage, credit cards, etc. etc.