this is OT but just need some quick info.

friend went on vacation couple weeks ago and he forgot to make the car payment before he left. unfortunately he didnt get the 15 day notice, he came back 2 days ago and while we were hanging out today a tow truck came over and took the car. he tried calling the dealership but i guess its close cause they are not picking up.

question is what penalties will he be paying to get his truck back? im guessing he'll have to pay for the tow truck and for the place where they store the truck for the night and probably some late payment penalties and of course his credit gettn fucked.

anyway, anyone have any first hand experience with stuff like this?

hate to say it but it sounds like he missed more than one payment man, that doesn't happen on the first one....

They definitely dont repo on one missed payment. I feel bad for him but I dont think he is telling you the whole story.

I'm with these guys. He's in trouble.

Yea I used to work for a bank and a repo order was not issued unless the account was over 45 days delinquent. He is going to have to pay the account current + 1 month, the repo fee, storage fee and possibly admin fees depends on the creditor. The dealership would have nothing to do with the repo he needs to contact the creditor that financed the loan. Sucks but the best thing to do if you ever get into a financial crunch is call the creditor and most times they will work with you on a reasonable solution. Hope this helps.... :57: