by Answerbag Staff on February 5th, 2010

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How late can payments be before a car is repossessed?

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by Christina Riopelle on February 5th, 2010

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Chris is a Michigan based writer. She attended the theater management program at Wayne State University. She is past President of The Vintage Fashion Guild, an international educational and trade organization, and has volunteered for several other nonprofits. Since 2006, she has been the author of several blogs, and now appears on eHow.. Samples of her work are featured on her website, GoingOnFive.Com.

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A creditor can repossess a vehicle as soon as the consumer defaults on the contract agreement. Failing to make one installment payment on time, for example, may constitute default. Refer to the original loan or lease agreement for the conditions of default as defined in the contract.
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Federal Trade Commission: Vehicle Repossession
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How late can payments be before a car is repossessed?

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