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Basically, it means last chance to pay before repossession takes place. The procedure for repossession is in progress.
Yes, this is the common reason for repossession. It is in fact the primary reason for the existence of repossession agencies and repossession forwarding companies. It is also the reason the vehicle was used to secure the loan in the first place.
Yes. If the property is found it can be retreived.
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.
Depending on the state you reside in the procedure in order to get a repossession stopped is difficult. One of the few ways to stop a repossession is if a "breach of the peace" were to take place such as your car being in a locked garage or a threat of force was issued.
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.
1st place to look would be at the car lot you bought it from.
A repossession can be executed anyplace or time that a person holding the repossession order sees the vehicle in question, as long as the repo man does not violate the law in doing so. That said, Florida law does not restrict repossession according to location.
April 1948
The best place for good information about repossession is the Federal Trade Commision web site: http://www.ftc.gov/bcp/edu/pubs/consumer/autos/aut14.shtm
Only if you pay up all the arrears payments that caused the repossession process to begin in the first place. Partial payments will have to be negotiated with the original lender.
What info do you need?? A list of lenders and phone numbers???