Pennsylvania Car Reposession Laws
Date: Fri, 11/26/2010 - 12:19
Submitted by Kenneth Barhight
on
Fri, 11/26/2010 - 12:19
Total Replies: 1
I have a car loan through TD Bank that I have been paying on since Nov 2005. It matures in April 2012. I have gotten myself into a mess with credit card / payday loan debt and now I am trying to dig myself out of that hole. In the process I have put myself around 3 1/2 months behind on my car loan payment. I spoke to the bank last week and they told me if I am not able to pay at least two months worth of payments, my car will be repossessed.
Anyone able to offer a little guidance on the best way to handle this and if there are any ways I can circumvent the process. I would also like to know what the law is in Pennsylvania regarding car repossessions.
Thank you,
Ken B
Anyone able to offer a little guidance on the best way to handle this and if there are any ways I can circumvent the process. I would also like to know what the law is in Pennsylvania regarding car repossessions.
Thank you,
Ken B
I think you should stop your payday loan/CC payments for the tim
I think you should stop your payday loan/CC payments for the time being and pay the two months installment to the car loan company. You can also ask for a loan modification to reduce your monthly payments so that you can pay them in ease.
As per the Law, if you are behind by 6 months in your car loan, then the loan company has every right to repossess the car.
