![]() ![]() Now, the bank will then send you another notice to let you know that your car will be sold through public auction or a private sale. Introduce a buyer to purchase the motor vehicle at the price indicated on the notice.Ģ1 days had passed since the day the Fifth Schedule notice was sent and you didn’t take any action.Repay in full including the balance due and settle all out of pocket expenses.Pay all outstanding arrears and out of pocket expenses incurred by the banking institution to take back possession of the car.But remember, you have 21 days to sort this out, so don’t delay it again. ![]() If you still want your car back, below are what you can do. The notice will state the amount you have due to pay the bank including missed payments and charges from the bank like the cost of a repossession, storage, repair or maintenance as well as re-delivery. You will also receive another notice called the Fifth Schedule within 21 days after the repossession has taken place. Once the bank took your car, you will receive a notice to inform you that the bank has successfully repossessed the car. If this happens, below are what you should take note: Now, find a corner and start doing some self-reflection. They warn you already, but you never listen. It will issue an order to the procurement agent (EPS) to take your car away. ![]() So, what happens if you don’t settle this issue after 21 days? Well, the bank now has the right to repossess your car.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |