Legal Question in Credit and Debt Law in North Carolina
Late car payments
My car payment orginally was 2 times amonth, around 1 1/2 years ago I told them I needed to set the payments to once a month. I was told I needed to sign a change payment form which I could not get sent to me. I have been paying them once a month since then. The payments are due 6 th and 20th of each month, I pay around the 20th or later. At this time my payment is not one month past due and the loan is almost paid off.
Can they repo the car or take legal action?
Thank You for any info. Sarah
1 Answer from Attorneys
Re: Late car payments
It is difficult to answer this without seeing your loan contract. If they have not taken legal action in such a long time, they may have decided not to do so. It is more likely that late fees and additional interest was added to your outstanding loan balance, and when you think the loan should be "paid off", you may still have those fees and interest remaining to pay.
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