car repossession

[gak555]

Not quite ready to file bankruptcy yet and would like to know if I stop making payments on the car how long before they typically start the repo process ?

Car is worth about $5,000 and I owe about $3,400. Once I file, I do want to keep the car, it's just that now I am trying you save as much as possibe for expenses related to the inevitable.

[FilingOnMyOwn]

You should probably not miss more than one payment.

[no_it_all]

Depends a great deal on who the lender is...If you bought from Larry's Used Cars (we tote the note!) it can be repo'd in a couple of weeks. More legit lenders you can string along at least two months, probably by the due date on the third month they will have someone in your driveway looking for the car.

Depending on which state you are in, you may have to be notified that a repo has been ordered, giving you some time to A: hide the car or B: pay the piper.........

[follie]

Honda waited 80 days before they came and got my car.

Just a tip, if they do warn you ahead of time, don't under any circumstance try to hide your car. They can charge you with fraud. Honda tried to do that to me, but since they had my current address and the car was sitting in the parking lot in front of it, they don't have anything to back it up.

Before things get bad CALL THEM. Work out what you can. Nothing sucks more than not having a car.

[lostsoul23]

Honda waited 80 days before they came and got my car.

Just a tip, if they do warn you ahead of time, don't under any circumstance try to hide your car. They can charge you with fraud. Honda tried to do that to me, but since they had my current address and the car was sitting in the parking lot in front of it, they don't have anything to back it up.

Before things get bad CALL THEM. Work out what you can. Nothing sucks more than not having a car.

I wish more people thought this way. I don't get nasty, etc., I simply am the last stop before it goes to another office and they do become a bit more agressive. People have this mindset that if they hang up, don't answer, send whatever they want when they want that it's all okay. (I have had people tell me they will pay when they feel like it & they don't care about their credit OR the credit of whoever else may be on the loan with them.) The place I work out goes to great lengths to warn people that they are coming for the car, and sometimes they call in, other times they just ignore it until the repo man is there & then demand you do something then & there when they are 3 or 4 months behind. (/ends rant)

Anyway, follie gave good advice. Call them.

Good luck.

[no_it_all]

<snip>Just a tip, if they do warn you ahead of time, don't under any circumstance try to hide your car. They can charge you with fraud.

Really! I didn't know American Honda Finance was in the law enforcement business!!! Please don't believe everything a repo agent tells ya!

[no_it_all]

Once again boys and girls...being late on a car loan is a civil matter, not a crimminal one!!!