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In NC how late before a company can repo a vehicle?
CO-Nuvell
43 days late

Do they have to notify you in writing prior to repossession?

Thanks guys....................

Posted: Tue Apr 29, 2008 1:49 pm Subject:

anyway I have been online and cant find anything that says they the lender has to send you notice, or how late is considered late for repo...........

does anyone know any good sites with more concise information?

Posted: Tue Apr 29, 2008 2:24 pm Subject:

my car was in repo at one point but i luckily was able to borrow money last min to take it off that status. i was three months late and did not recieve anything but a voice mail saying that my car is in repo. i was terrified.. i can't help too much, just wanted to let you know my story.

Posted: Tue Apr 29, 2008 5:18 pm Subject:

Most states adopt the UCC, which governs secured transaction and repossessions. http://www.law.cornell.edu/ucc/9/article9.htm#s9-609 The UCC really just says that any time after default, they can repossess the vehicle; it doesn't give any timeframe or notice requirements.

An account is technically 'in default' the day after a payment was due. Most lenders won't repo until it's 60-90 days late, but 30-60 is in the red too, depending on their policies.

Some states do require a written notice of default, and your right to cure, before they can repossess the collateral. But I don't think NC does (I gather that from a quick skim of their statutesstatutes

DaveSkalka · Posted: Wed Aug 20, 2008 10:09 pm Subject:

It varies from state to state, some for example Nebraska require 20 days prior written notice of default before repossessing. Some require nothing.

DaveSkalka · Posted: Wed Aug 20, 2008 10:09 pm Subject:

It varies from state to state, some for example Nebraska require 20 days prior written notice of default before repossessing. Some require nothing.

Posted: Thu Aug 21, 2008 4:06 am Subject:

Read you contracts. Most auto notes are in default if you are 1 day late on your payment. Personal experience with Nuvell is they have a 10 day grace period stated in the comtract. On day 11 they technically could start the repo process but generally you would have to be 45 days or more past due. Here's a good reference

http://www.repo-links.com/index.html

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