Legal Question in Credit and Debt Law in Oklahoma

repossession of vehicle

I am 2 months behind on my car payment. I tried to get caught up today, but the creditor would not accept any money. They say they want the vehicle. What should I do.


Asked on 1/19/07, 6:06 pm

1 Answer from Attorneys
Steve Chlouber Fuller, Chlouber & Frizzell, L.L.P.

Re: repossession of vehicle

You should look carefully at the note/installment contract that you signed for the vehicle regarding what is says about the creditor's options upon default under the agreement. After reviewing the same, call them back discuss paying the vehicle current. They probably are claiming to accelerate the balance of the note and want it paid in full. Agree to pay penalities and interest to catch the note up.

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Answered on 1/22/07, 4:05 pm


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