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If the principal is paid in full and the only payments left are interest from late charges can they repossess your car?

Annie Barnes

in Student Loans

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Deborah Edwards on July 7, 2018

%DETAILS% YES. Not usually. In New Jersey, if you have more than a 90% participating interest in the vehicle in which can not take the car. BUT they can still damage your credit for 7 years and try to collect in court. In practice they almost always damage credit with a chargeoff or a closure of the account, but they rarely sue for small amounts despite the fact that you can still.


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