- Vehicle Repossesion: Seizing the Vehicle
- Vehicle Repossession: Selling the Car
- Vehicle Repossession: Paying the Deficiency
- What should I do if I am unable to meet my car loan payments?
- Should I voluntarily surrender my car if I cannot make the loan payments?
- Do I have the right to cure the default if I miss car loan payments?
- If I am unable to cure the default on a car loan, do I have a right to redeem the vehicle?
- Could bankruptcy help me prevent my car from being repossesed?
- U. S. Bankruptcy Court - District of Delaware
What should I do if I am unable to meet my car loan payments?
You can delay or avoid repossession of your vehicle, in some cases, if you talk to your creditor as soon as you realize that you will be late on a loan payment. When you contact your creditor, you should try to negotiate a modified payment plan or modification of the loan. You should ask the creditor to put any modifications in writing. This writing is generally called a "workout agreement."