Repo question

[whiteLS1TA]

I got a loan for my car through a credit union(metro 1) and i havent made my payment this month which was due on the 9th. i am kinda hard on money right now and i just got a job and wont be able to make the payment until this friday. is there a possibility that my car might get repoed by that time? this is the first time i have been late on a payment.

[sirenformula350]

Call the Credit Union and make payment arrangements. Tell them your situation. Couldn't hurt

[OnEbAdReDSS]

I work for a insurance company... and it seems like they won't repo the car unless you haven't made like 2-3 payments... thats what i see on papers..

but i would call the credit union

[whiteLS1TA]

yea i understand that that, but man i have been really busy lately with school and trying to get a job. and i havent had much time to do anything, tomorrow ima have a few hours free so ima call them. thanks for the info though guys

[LETHALxLS1]

Its not that late but put it in the garge just to be safe! and I would make time to call and explain the situation.

[Tracker9118]

Its better to let them know.

[DrMilhouse]

Call the Credit union. They'll be happy that YOU are calling THEM instead of them having to call you. They shouldn't be repoing it any time soon. The very soonest that they could legally do it is 15 days I think. Most banks will let you get 3 months behind before they go down that route. Just call them and let them know what's up, they'll be fine with it. If they're not, get a new credit union.

[camaross0002]

Call the Credit union. They'll be happy that YOU are calling THEM instead of them having to call you. They shouldn't be repoing it any time soon. The very soonest that they could legally do it is 15 days I think. Most banks will let you get 3 months behind before they go down that route. Just call them and let them know what's up, they'll be fine with it. If they're not, get a new credit union.

DRM is right here take his advice.

Call the creditor they will usually work with you usually don't want to repo unless they have to because in the end it costs them alot of money. Call them talk to them before they call you.

[ls1blackbeauty98]

I got a loan for my car through a credit union(metro 1) and i havent made my payment this month which was due on the 9th. i am kinda hard on money right now and i just got a job and wont be able to make the payment until this friday. is there a possibility that my car might get repoed by that time? this is the first time i have been late on a payment.

thats the cutest post...
ummm no sweetheart they wont actually repo ur car until a few months *2-3* if i were u, id call them and tell them that you're making the payment this friday. as long as u stay in communication with them ure good, although they might have reported u late on ur payment because its past 10 days, most credit unions give u a ten day grace period before fees/reporting to credit people.

keep up with those payments!!! its really easy to have ur credit go to shit and its VERY hard to get it back up!!

[Blitzed]

thats the cutest post...
ummm no sweetheart they wont actually repo ur car until a few months *2-3* if i were u, id call them and tell them that you're making the payment this friday. as long as u stay in communication with them ure good, although they might have reported u late on ur payment because its past 10 days, most credit unions give u a ten day grace period before fees/reporting to credit people.

keep up with those payments!!! its really easy to have ur credit go to shit and its VERY hard to get it back up!!

*Insert "get it back up" joke here*

[third_shift|studios]

My payment book has both a "late payment" and an "ontime" payment-seperated by $15 days. As long as they get their money, they're happy.

[rbob93]

Soooo........ you don't have time to call them eh????

Coulda called them in the time it took to post this thread dippy!

[86 IROC-Z]

Shit man... its been, what... 16 days? You better go out to you driveway and make sure they have repoed it already, shit.

[Tracker9118]

[LS1Powerhouse]

They wont repo for awhile.. that loses them money too.. and with credit unions you get a 15-30 day period (based on their policies) before its shown on your credit report as well, so your good as long as you get it in there soon, but then you have next month.. So dont get to far behind.

[whiteLS1TA]

thanks for the input guys and gals. i just got off the phone with them, they said that i am in good standing with them so im good. i was just worried becuase i never missed or made a late payment.

[whiteLS1TA]

Soooo........ you don't have time to call them eh????

Coulda called them in the time it took to post this thread dippy!

yea credit unions usually arent open this late. well the time i posted this thread which was last night at 11

[SeVeReDiStOrTiOn]

thanks for the input guys and gals. i just got off the phone with them, they said that i am in good standing with them so im good. i was just worried becuase i never missed or made a late payment.

No they won't repo it but never ever pay more then 30 days late...otherwise it'll be reported and will be a hit on your credit. If you have to, suck it up and live on Top Ramen/tuna for a few weeks in order to make the payment. If you have no other option, put bills aside that don't reflect your credit...like cable, utilities, etc.

Have you ever checked out your free annual credit report to see exactly what's on there? Get it here---> https://www.annualcreditreport.com/cra/index.jsp It's a federal law that everyone can get a free credit report once every 12 months. http://www.ftc.gov/bcp/conline/pubs/...eereports.shtm
Don't mess with your credit bro...it takes years and hard work to repair. The free report won't show your FICO score but it'll show you everything else....you have to pay to get the score.


Also most credit unions/banks give a 10 day grace period to where there's not even a late fee...some tell you about it and some don't. Just FYI..

[01pewterz28]

Credit unions give you a 7 day grace period before they hit you with late fees

[Zapper2003]

Ramen Noodles w/ tunafish = poor mans tuna noodle caserole.

Spaghetti is also cheap/easy and lasts for days.