If I signed a reaffirmation after seeing the trustee, how late does my payment have to be before they can take the car away?
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If I signed a reaffirmation after seeing the trustee, how late does my payment have to be before they can take the car away?
Asked on May 13, 2015 under Bankruptcy Law, Florida
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
The terms of the reaffirmation agreement are conrolling as in any contract. If the terms of the reaffirmation agreement allow for a grace period, that will determine when late payments are acceptable. If there isn't any grace period, payment is due on the date of the month stated in the agreement.
There isn't any general rule of law that says payment can be X days late without repossession of the vehicle.
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