[chester1]

My question involves collection proceedings in the State of: Michigan

I have a loan through Drive Financial and I have had the truck for a month now. The second truck payment is due tomorrow and due to payroll not being done untill this week I will not be able to pay untill friday or saturday. It will be 4-5 days late. I have not received a contract from them just what I signed at the dealership. Will they rep my truck for only being late 4-5 days. I am very scared I do not want to loose my truck. Any suggestions on what to do other that calling them. On the payment stub it says not grace period, if late they MAY consider collections or repo. I have never heard of someone repo a truck in a default of 4-5 days. Thank you for the help!

[CourtClerk]

You may want to call them. Companies like Drive Financial, who typically service people who's credit isn't all that great anyway may not work with you too much if you have no established payment history with them. If you're in your 1st month and already almost a week late... if you don't make contact with them, you may have some issues.

[Betty3]

I agree that you definitely need to call & talk to them - let them know what is going on.