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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 34342
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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They want to repo me car. I did not make a payment months, I

Customer Question

They want to repo me car. I did not make a payment for three months, I was working out of town and I just forgot to pay but I have the payment in full for the three months and they will not allow my to pay it. What can I do? I really want to keep my car and keep up the payments
Submitted: 1 year ago.
Category: Legal
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Unfortunately, if you have gone into default on the payments for the car, under NM law, (NM 9:55-9-101 et al) the lender has the right to "accelerate" the debt and declare the entire amount due at once. That means the entire loan amount, not just the delinquent payments.

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So if they won't accept the delinquent payments and return them to you if you mail them in, then to be very honest, it will just be a matter of time before they are able to repo the car. However if they haven't taken possession of the car at this point, your best option is to see if you can find another lender who would make you a loan on it so you could just refinance it and pay it off from the original lender to prevent a repo..

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thanks

Barrister