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Question: My vehicle got repossessed last week and I called the bank today to pay off the past due amount I owed so I could get it back. They said I would have to pay the entire balance of the vehicle off to get it back. Are they allowed to do that?

Answer: Under Illinois law, if you are purchasing (not leasing) a vehicle, you have the right, if you have paid more than 30% of the payments on a vehicle (counting the down payment and any trade in as part of both numerator and denominator), to reinstate a contract once by tendering the missed payments and repossession expenses. You have to be given written notice of that right, and have about 15 days to exercise it.

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