Expert: Mike Weikle - 5/29/2009

Question
I have fallen behind on my loan payments, just hit 100 days. I finally have the funds to bring the account current, but a repo has also been issued however I'm still in possession of the vehicle. If I wire funds to bring account current, and finance company accepts payments, can they still have the car repossed?

Answer
I apologize being so late in responding.  
I am not sure why I did not receive notice of
your question until special.notuce came to
ask why I had not responded to your question.
I am truly sorry this is so late.

As to your question, they likely can but that
Would be because it is allowed in your loan
agreement.  I cannot give you a complete answer
without seeing the loan agreement and knowing
what state you are located.  

Have you called them and asked if they will
cancel the repo order if you bring the payments
up to date?  If not, you should.  Most lenders
want the payments and not the car.  You may send me
Your number and I will call you if you want to discuss this and look
for a solution.  I will not charge you so please
accept this offer and help me get rid of my
bad feelings for being so late in responding.
My email is mikeweikle@weiklelaw.com