There is not a set period they must hold it.
They must "Make it available for collection for a reasonable period"
This is usually the time between when they notify you of how the car will be resold and the date it goes on sale.
No, the repossession agency must return your personal property undamaged. Usually you have to go pick it up. If your property is damaged, the agency should have insurance.
A repo agency should follow it's state requirements. Most respected places will try to call or send a letter to a good number or address with this information.
If you get the car back you have to pay storage, if there was even a pair of sunglasses inside the car they can charge you for property.
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.
Wrongful repossession insurance??? Coverage for when the Repossession Agency wrongfully recovers an asset for a myriad of reasons.
Repossession companies are required by federal law, and the laws of most states to inventory and store personal property found in repossessed vehicles. As is permissible under most state's laws, the agency may charge a storage fee for this, and can require the payment of the fee before releasing it to the owner.In the cases where the storage fee is unpaid, or the owner does not come to claim his property, the property is considered unclaimed, typically after thirty (30) days, and the agency may dispose of it as they see fit.In the event a weapon or illegal substances is found among the property seized with the vehicle, typically the repossession agency will contact local law enforcement for confiscation. Recovery of such property becomes a mater for another category at this point.Foreclosure is a different matter. In the event of foreclosure, the occupant of the home will be served an order to vacate. This can give you one week to thirty days to vacate the premises with all of your property. Anything that remains after the date on the order is the property of the home owner (the lender). The lender at this point may dispose of the property any way they see fit, typically it goes into a large dumpster.
If I was a betting man, I would say that you have a collections agency that is just flat out lying to you and at the same time breaking the law. The only people that can just take private property would be a licesed repossession agency, and they could only take suck property that is part of the loan, like a car, boat, etc. The only other way to take a debtors personal property would be by obtaining a judgment from the courts and then filing a motion for Garnishment and Levy of Personal Property, which typically would require them to provide a list of the items they wish to take. I would say record the calls and contact an FDCPA attorney to sue the pants off the agency for violating your rights.
In the state of New York, provided there is a legal order for repossession, once the vehicle is located, it may be secured and recovered. The repossession agency has 24 hours to notify the registered owner of the repossession, but they are only required to do so by mail, and may do so to the address of record on the registration. They do not have to notify anyone at the time of repossession other than local law enforcement of jurisdiction. They must inventory and secure any property contained in the vehicle, and may charge a storage fee for that property.
AnswerYes, as long as it is not inside a garage or building that is either locked or unlocked. The other exception is the repossession agency may not commit a breach of peace as defined by state law while recovering a vehicle.. Also the repossession agency is not allowed to cause property damage in order to take possession of the vehicle,such as if the vehicle has a chain/cable wrapped around the rear axle secured to a pole with a padlock..They can not cut the chain/cable or the padlock because doing so is malicious destruction of property....
Pay the past due amount on the loan or pay the loan in full. In the event you are able to do this, it is a good idea to have the lender contact the repossession agency to cancel the repossession while you remain on hold. If you fail to do this, it could take several hours for them to notify the repossession agency, and your vehicle could still be taken.
RE-Mex is a popular property and home selling agency. It was founded in 1973 by David and Gail Liniger in Denver, Colorado.
You present proof that the repossession never occured. You can dispute it with the credit reporting agency.