To Prevent Repossession Of Your Car Keep current on car payments. Don't pay credit card debts, doctor bills or other low priority debts ahead of car payments. You won't lose any property if you skip payments on low priority debts for several months. Skip one or two car payments, and you risk losing the car. Cure a default.
Many states give consumers a second chance to make-up late payments before repossession.
The information about how much you need to pay to cure the default will be indicated in a notice the creditor is required to send you. You can prevent repossession by paying just for the months you are past due and some late charges. In other states, making all back-payments may not prevent repossession. Creditors generally insert into their agreements the right to call the whole loan due if you miss a payment. In these states, paying just the delinquent payments won't stop repossession unless the creditor agrees in writing to accept the back-due payments and reinstate the loan.