The number of days that a payment can be late before a car is repossessed is usually stated on the loan documents. For instance, one agreement might state that the debtor is in default if the payment is one day late, whereas another may state that the debtor isn't in default if fewer than 30 days have passed.Continue Reading
There are some loan agreements that state that the debtor first has to receive a notice that he is behind on his payment before the car can be repossessed. In the event that a creditor has accepted late payments in the past without mentioning repossession, or if the creditor altered the terms of the lease agreement, including the due date, then the debtor is legally allowed to use that as a defense if he decides to go to court.
There are specific laws that have to be followed whenever a car is repossessed. Creditors are not allowed to make threats, damage the vehicle or damage property in the process of repossessing the vehicle. A court order needs to be obtained before the car is repossessed if the debtor is a member of the military, as of 2014. Creditors are not legally allowed to sell any personal property left in the vehicle after it has been repossessed.Learn more about Law
Payday loans refer to loans from lenders for small amounts of money, usually less than $500 at a time, with loan payment due on applicants' scheduled pay days, as stated by the Consumer Financial Protection Bureau. Payday loans coordinate with individuals' payment schedules. Much like other monthly payments, such as credit card bills, people establish set times for repaying payday loans; lenders typically withdraw requisite payment directly from individuals' bank accounts.Full Answer >
A no-money-down car loan is a car loan that does not require a down payment. These loans may be easy to obtain for people with good to excellent credit, but people with bad credit may have a tough time finding these offers.Full Answer >
To register a car in New York, you must provide a local DMV office with a completed MV-82 form, proof of identity, insurance cards, payment for applicable fees and vehicle ownership documents. Emissions testing may be required for specific vehicles.Full Answer >
As of 2015, the K1 fiance visa requires a number of documents including the application, a valid passport, police certificates, medical exams, proof of financial support, payment of fees, proof of relationship with the fiance and photographs, notes State.gov. These are the requirements of the person coming to the United States, which are in addition to the documents that the U.S. citizen must file.Full Answer >