QUESTION
i have had my car repossessed after missing a number of payments. If i pay yhe past due amounts are they obligated to surrender my car?
Asked on Jan 01st, 2014 on Breach of Contract - Florida
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
Not necessarily. Many finance agreements have what is called an acceleration clause in which theycan declare the entire amount owed on the loan due. At a minimum you will also likely have to pay any late fees, penalty and repo charges before your finance company would agree to a voluntary reinstatement.
Answered on Jan 02nd, 2014 at 8:40 AM
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