I have a title loan with Title Max in Alabama. I cannot make the payment this month and have even offered to pay half but they will not accept it. How many payments can be missed before they can repossess my car?
Always read your contract but they can probably repossess your vehicle after one day of a missed payment. Look for technicalities such as how many days after the payment is due do you incur a late fee, and look to see if the contract has any language in it about repossession and when. You can hire an attorney to interpret the contract for you if you would like. You can contact an attorney to file for bankruptcy. In all likelihood you are only paying interest and you would be better off in a chapter 13 because a 13 reduces the interest rate.