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Its in the contract.
Under most state laws, ordinarily, the lender must give you notice of your right to reinstate the contract after repossession, even if the lender thinks you have given up the right. If the lender doesn't give you this notice, you may have the right to get the property back for nothing-but you will have to resume making payments on your loan. If you have been given notice and want to try to reinstate the contract, contact the lender as soon as possible to work out an agreement.
If you don't reinstate the contract within the time permitted by the agreement, the lender will send you a formal notice of its intent to sell the property.
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∙ 10y ago
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What if the repoe man put your car on side of unsecured place no fence or lighting and you take it back?
It typically referred to as stealing and you can be charged with auto theft. The car is owned by the lender until you pay it off. If you have not been paying them then they have simply taken back their property.
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