30 days and 20 minutes dude
In Tennessee, a truck or car finance company can hire a repossession company to take your vehicle if you do not make payments and are in default. They are not able to break into a locked garage to take your vehicle and they cannot forcibly remove a person from behind the wheel of the car.
Yes
There is no company with the name "Repo Truck", but "repossession" of a vehicle simply means the financial lending company "takes back" the vehicle, because monthly payments on the vehicle have ceased.
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
Our company that refinanced the vehicle is threatning to garnish wages and garnish our other vehicle (of which is paid for) and other assets.
You need very good proof it was not damaged before the repossession. Nearly impossible to do as he can say it was damaged when he got it (and he will, believe me).
what are the legalities of voluntary vehicle repossession
If the finance company has sold it, you have you answer. How can you be so stupid?
Sample letter of vehicle repossession for the state of texas
Possibly. If you hide the vehicle they could charge you with GTA. Grand Theft Auto. Remember, they own it and you don't.
When you purchased the car, you may have received a lien title from the state. This is not a clear title of ownership. The lender in essence still owns the vehicle, at least part of it. It is held in security for the loan. If you are a repossession company or agent, you will be required to have an order of repossession. But, if you are a repossession company or agent, you should already know this.
Actually a company can reposses your vehicle without notice. When the terms of a finance contract is broken the company has all rightd at that time. They are under no obligation to notify you.