They should offer you a chance to get your belongings out of the car when they come to repossess it. Their repossession order covers the vehicle they're repossessing - it does not give them entitlement to your personal belongings.
The repossession company is not responsible for returning belongings. The repossession company is responsible for notifying you where you can pick up your belongings and at what times. Some companies charge you a storage fee or only give you a few weeks to pick up your belongings before they become theirs.
After repossession, the lien holder or agent sends information on how to reclaim the vehicle; if the owner does not respond or cannot repay the outstanding debt, the agent removes all personal belongings and sells the vehicle at auction. You will then be liable for the difference in what it sells for and the balance on the loan plus repossession fees.
IN ANY STATE YOU MAY GET YOU THINGS AT THE TIME OF THE REPO OR YOU CAN GO TO THE YARD AND HAVE SOME ONE HELP YOU.
Repossession companies must give you the opportunity to recover your personal belongings. That being said, they need not do so at the time of repossession. If they store your property for any length of time, the may charge a storage fee. They are not required to hold your property indefinitely either. If you make no attempt to recover you belongings, the repossession company will dispose of it after 30-45 days.
what are the legalities of voluntary vehicle repossession
They don't charge you to get your personal belongings back... they charge you a "storage fee" for the time they stored your personal belongings. And yes, they can do that.
Sample letter of vehicle repossession for the state of texas
Yes, they can. Ultimately they have to PERFORM WORK to gather, label, secure, and keep safe your belongings. They can charge you for this because they were forced to perform work. The law allows them to be compensated for it.
If the vehicle is not a repossession and is in fact a law enforcement impounded vehicle, in California the answer is, NO. The law in California says "we towing companies" must allow you to pick up your property, however, we are only going to give the property to the legal owner of the vehicle. Therefore, bring them with you, picture ID in hand. No they cannot charge you to get your personal belongings from your car.They can charge a fee if they actually do something like inventory and store your belongings.
I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.
Dealerships are not typically recognized repossession agents, however, if you bring in a vehicle for service, and a valid repossession order exists for that vehicle, the delareship may secure the vehicle for the lender so that repossession may take place.
Contact an attorney.
pay what you owe
A "repossession notice" is a civil matter. A police oficer cannot hold the vehicle for repossession. Unless, there has been a court proceeding and the judge has ordered the vehicle held if stopped. A repossession notice also cannot stop the registration of a vehicle.
a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com
Pay off the loan.
No. The only vehicle that can be repossessed is the vehicle for which the agent has a valid order of repossession, OR in some cases, a vehicle the agent encounters (such as reported by a camera car) in the process of locating another repossession. Anything other would be wrongful repossession or possibly grand theft auto and extortion.
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
NO, it is NOT legal.
Yes. It is your personal property. It is taking up space on the property of the repossession agency. They may charge you for using that space.
In most cases, a repossession can keep personal belongs for non payment. The company, however, must release them once payment is made.