Can my car still be repossessed for late fee’s after I made the last payment?

UPDATED: Mar 20, 2012

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Can my car still be repossessed for late fee’s after I made the last payment?

I paid off my car 4 months ago but the finance company is telling me that I still owe over 2k in late fees and interest. I never agreed to any contract extension or agreed to pay any interest on the so called late fee’s.

Asked on March 20, 2012 under Bankruptcy Law, Illinois


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Whether or not the ledner for your vehicle can repossess your vehicle that you have paid off due to unpaid late fees depends upon what the loan agreement that you have with it states. As such, I suggest that you carefully read it in that its terms and conditions control the obligations owed to you by the lender and vice versa.

If the agreement does not call for late fees and you have legal title to the car in your name, I do not see a legal or factual basis for any repossession of the car by the lender.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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