Ashley
springfield,#2
Tue, August 25, 2009
You need to review your contract. It sounds like you are leaving something out of your story. Normally car lenders do not repossess if you are just 2 weeks late. You usually have to be a couple months behind. Have you made every other payment on time and in full? If not, then previous partial payments are putting you farther late and adding up more interest.
Additionally, they can dictate what kind of insurance to keep on your car. Look at your contract and see what sort of insurance they mandate for your vehicle. Also when you change insurance, you have to get the new company to contact your lender with all of the policy information.
If they are being unreasonable about anything but the full balance you may be screwed. MOst lenders will let you have the vehicle back if you bring the account current, and pay all the fees from a repo. The vehicle is theirs though, and they can demand full payment. Again, look at your contract and see how a repo is handled on your car. It should spell out the steps.