My sister had been paying on her car for five years. After Hurricane Gustav, she couldn't work for six weeks ( her office had alot of damage).
The bank that her auto loan was with called her and offered to defer two payments due to the hurricane and that the two payments would be placed at the end of the loan. They told her that those two back payments would make the loan mature later rather than sooner.
Her loan is set to mature (end) on the 22nd of this month. She made Febuary's payment last week. The bank called and told her that the balance was $2,436.00 ( late fees) and that the total amount was due on the 22nd. She asked if she could just continue to make her normal payments until the $2,436.00 was paid and they said they couldn't. They told her that if the whole amount wa snot paid by the 22nd, that her car would be repossed.
Can they legally do that? She has not defaulted on the loan, her last payment wa smade last week. Can they repo for late fees?
