⇧ Vehicle Repossession In Delaware
- 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
Do I have the right to cure the default if I miss car loan payments?
In most cases, you will not have a right to cure the default, which means that you will not be able to pay missed payments in order to get your vehicle back. You only have the right to cure a default in Delaware if your installment contract provides for a balloon payment and this balloon payment is the one that you missed. A balloon payment means a final loan payment that is much larger than the regular payments. If you have a right to cure the default on the balloon payment, then you have an absolute right to obtain a new payment schedule, and the payments under the new schedule must not be substantially greater than your original installment payments.
Last updated on .
