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What are the laws about repossession when payments are current?
This is one question that I had to get the answer to recently, and with the quickness! I learned that the laws governing the rules of repossession vary from state to state. You will need to look up the laws to find out your states terms and conditions. The lending bank's state of origin does not matter, it depends solely on the state the vehicle is registered in. Massachusetts requires
If your vehicle loan was made in one state but the vehicle is currently in another state which state's repossession laws apply?
the state the car is in govern the repossession, the lenders choice on which state governs collection efforts. Read your contract.
Where do you find state laws regarding auto repossession?
Repo Laws can be found at a site called www.dmv.org or you can also check your local laws.
What are the vehicle repossession laws in Arkansas?
Vehicle repossession laws in Arkansas is the same there as it is in every other state. One must pay his loans or risk facing legal action from the one that one has borrowed from.
What is considered an illegal repossession?
Repossession laws vary from state to state. States also have different provisions for different types of property. You would need to be more specific about the circumstances, the property and the state where the repossession would take place. Your question should be reformed to ask, "Is a repossession under the following circumstances legal"? Asking what is considered an illegal repossession is much too broad a question.
Where can you find the repo laws for NYC?
Repossession laws are enacted by states and are applicable to all the municipalities within that state. Please see link.
What are the proper procedures for repossession and sale?
The answer to this depends on the state you live in. Each state has different laws that prescribe the process for repo and sale.
If you live in one state but your bank is in another which state laws apply when dealing with a repossession?
Generally the laws of the state where the contract was signed take precedence. I disagree. If the car is registered in California and titled in California, and located in California, California law applies. The validity of the debt, late fees, and so on ARE determined by where the contract was signed, but California has specific laws on the procedure for repossession.
If you purchased a car in Delaware and moved to Texas what are the laws for repossession?
The legal remedy for vehicle repossession is covered by UCC laws. Regardless of where the lender is located the car can be repossessed under the laws of the state where it was purchased or where it is now located, whichever means is most advantageous to the lender.
When can they start a repossession?
Depends on your state laws and the contract you signed with the lender. Read your contract. after the second payment is not paid
Where can you find laws and licensing information regarding Auto Repo for the state of Utah?
I have a number of good links on my site for Utah repossession laws: http://www.carsofutah.com
What is needed to open a repossession company in Minnesota?
Money, Knowledge of the laws,proper state permits and ENERGY. Good Luck
