What if your vehicle was repossessed but you never received a repossession letter what do you do?


Top Answer
User Avatar
Wiki User
2009-09-09 13:31:16
2009-09-09 13:31:16

Repossession letters are not required in every state. In some states, face to face notification of the repossession suffices, and when the driver came to hook up your car, if you had a conversation with him at all (even if it consisted of you yelling "Hey!" and him gesturing to you) you received notice.

User Avatar

Related Questions

Sample letter of vehicle repossession for the state of texas

In Florida, they have to send you a demand letter, once that demand letter expired(30 days) and you didn't contact the the bank to make payment arrangements, they assigned your loan/car for repossession.

Depends on the contract you signed and the state that you live in. Some states require a 15 or 20 day Right to Cure letter be sent to the debtor prior to repossession and some states allow the vehicle to be repossessed the day after you miss your payment.

How do you write a car repossession letter?

An auto repossession letter should begin with a letter head consisting of the name, address and phone number of the recipient. Choose a date that payment must be made for the vehicle along with its VIN number.

Depends on which state you live in. Most states do not require a Right to Cure letter prior to repossession but a few of the states do.

When your car is repossessed, what you will get will depend on your local governmental regulations. When I was in a car wreck, I was able to go by the junk yard and get my tool kit out of my car.

No, Missouri has no laws that require the creditor to notify the debtor that a vehicle is subject to repossession.The lender can have the vehicle repossessed without notice as long as the repossession does not commit a breach of peace as defined by the laws in the jurisdiction where the vehicle is seized.ADDED: While the above answer may have been correct at the time it was written - it is no longer applicable.Quote: "As per the UCC, repossession is allowed and permitted as long as it is peaceful, after a Twenty Day Right To Cure Letter from lienholder to debtor. One time cure law in effect in Missouri; all others per contractual agreement." unquoteSee below link:

When they send the letter, it's ten days from the time the letter was drafted. As for when they can repossess legally, that's a matter of your contract, and the laws of your state. Repossession agents and creditors stay pretty up-to-date on legal issues, and if they've repossessed your car, it's probable that they did it in a timeframe where it was legal for them to do so.

In short form, if a payment is missed, the vehicle is up for repossession. The company who owns the note may repossess the vehicle themselves, or may hire an independant company to repo it. Once repossessed, the company who owns the lein has to send a notice of repossession letter to the debtor, giving the debtor 10 days to either pay the car off in full, or catch up on payments missed. This is at the sole discretion of the owner of the note. The lein holder has to hold the debtors personal property for 15 days, and may charge the debtor a fee to retrieve the property. If the car is not claimed in ten days, the lein holder may sell the vehicle to the highest bidder. If the amount received exceeds the amount owed on the vehicle, the lein holder must refund the excess amount to the debtor, if the amount received is less than the amount owed, the lein holder may sue the debtor for the rest of the amount. A modest repossession fee may be applied to the total owed.

Simply state in the letter that you wish to surrender the vehicle, list the loan number, the VIN, or any other way to identify the vehicle and the account with the lender. Notify them where the vehicle can be picked up, and where the keys will be located. And, have it there when the agents come to recover it.

No. A C&D letter is simply a request to cease contact. The vehicle can legally, and probably will be repossessed.

Not denying your claim, but that would be difficult, nearly impossible to do successfully. Why: to take out a title lone, you need the title. To get a title you do not have, you need at least two forms of ID (not impossible to obtain) and the vehicle registration (again, not impossible, but more difficult). Then you will need to apply for a replacement title, pay the fee (as low as $25 to as high as $100). And then take the title, the registration, and that ID you got to the title loan office and apply for the loan.Now I've said all this so I can say this: the average amount of a title loan is about $500. The maximum I've heard of is $1,000 to $4,000, with the majority topping out at $1,000.My point is, it is not likely that anyone is going to pay a couple hundred dollars to make back only about the same amount.What is more likely to have happened if you took out no title loan is that your vehicle was mistakenly or wrongfully repossessed. It happens.Contact the repossession company and notify them that your vehicle was wrongfully repossessed. Let them know you are in contact with the creditor. Then call the creditor and inform them of the wrongful repossession, and request a full reconciliation (full accounting) of the debt. Let them know that you are following up your request in writing to make it official, and to give them some lead time to prevent the wrongful sale of your vehicle. Then follow up the call by writing the title company a letter requesting a reconciliation of the debt and the return of your vehicle. Send this letter, registered restricted delivery so that you receive a signature card showing it was received. If for any reason either or both the repossession and title companies fail to cooperates with you, report the vehicle stolen and give the police all of the information you have on who took it, when, and where it is.

Sit back and wait for NOI letter (Notice of Intent). * The majority of states do not require notice before a vehicle is repossessed. Contact the lender and explain the situation. And hope for a positive outcome.

Oregon TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Oregon Motor Vehicle Division, 1905 Lana Ave. N.E., Salem, Oregon 97314. Tel.:(503)945-5310. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR LIQUIDATION: Out of State Titles or Repossession certificates are required. Oregon titles require a repossession certificate. To Transfer title to a repossessed vehicle, the documents needed are: (1) The Original Title Endorsed by the lien holder; (2) Notarized Affidavit of Repossession; (3) A copy of the final demand letter with its certified mail receipt attached. PLATES: Remain with the vehicle. (Custom plates remain with the debtor.) James,NO BREACH OF PEACE. NONE. NADA. Do you have a key? Do you know where it is? 2+2= GONE where 2+number of people(1 to drop you off at the car and you to be gone) and 2= AM in the morning(whilst the guilty sleep) and GONE= before they know you WERE there.

Well first off, it's not like he could get a refund. If he is simply going to let it get repossessed, he can have someone else drop it off & he can send the lienholder a letter stating he is voluntarily letting them repossess the vehicle, along with location of where it was left. Voluntary repossessions avoid additional charges, towing, repossession fees,etc.

As soon as you are out of compliance with the original contract, the bank is allowed to protect their interest in accordance with the original agreement. If that means repo and sell the car and that's in accordance with the original agreement, they are no doubt obeying the law. Many banks will work with you, but nothing requires that they do so. In a few US states an letter of "Right To Cure" must be sent to the borrower before repossession can occur, in the majority of states a vehicle can be repossessed under UCC laws. Wisconsin is the only state that requires a replevin order.

Not in most states, in a very few the lender must notify the borrower with a letter of intent to repossess and give the borrower a specified time as established by state law to bring the account current. Wisconsin is the only state that requires a replevin order to recover a vehicle. All other states operate under the UCC and the repossession laws (breach of peace laws, recovery agency requirements such as bonding, etc.) related to the area in which the vehicle is being recovered. The recovery agent/agency is required to notify the law enforcement agency that has jurisdiction in the are where the vehicle is being seized.

Ok, for the first part of your question: In the State of Arizona, lienholders are required to give a 10 day right to cure. In other words, they have to wait for 10 days before they can sell the vehicle. As for the 2nd part of your question, in Arizona, they advise you in your finance agreement/contract that you sign that repossession is a cure for non or late payment. It is not their responsibility to babysit you. If your payment is due the 14th of every month, get the payment in the lien holder's hands by the 13th or call them and make arrangements if it is going to be late. The bank lendeth and the repoman taketh away.

To redeem collateral, the creditor sends a letter authorizing an employee or person to repossess the vehicle. The VIN number, as well as any amount owing must be displayed on the document. This way, if the client wants to pay the money owed he can do so. At that time, after paying all monies owed, the secured party can not repossess the vehicle, and the payment agreement continues for the duration. If not paid, after the vehicle has been seized, the police are notified that the vehicle has been repossessed. This way, if the person owned the car phones the police, the client is notified that it was repossessed. The vehicle is stroed for 30 days to give a chance for the client to pay off the amounts owed. If not paid, the vehicle is sold, and the creditor has to try to get full market value. If the vehicle is sold for less than the money owed, the client is on the hook. If sold more than the material value, then you receive any residual money left over after ALL creditors have been paid. I hope this answers your question.

Using any standard letter format, the body of the letter should be as follows: Paragraph 1: State why you are writing, for example, "We are advising you that your (year and model, or other identifying information of the vehicle) is scheduled for repossession." Paragraph 2: State the basis for the repossession. Include reference to any previous notification you have sent. Paragraph 2a: (Use only if no previous past due notices were sent) Provide information for how the recipient can remedy the situation to prevent the repossession. Be sure to include a deadline date/time that the remedy must be accomplished. Paragraph 3: (known as the "call to action" paragraph) For example, "Please contact me immediately at (phone number/email address) if there is an error in our information or if you will voluntarily return the vehicle. If we don't hear from you, the repossession will take place. Thank you for your attention to this matter." Keep the language professional even if the vehicle transaction was between private parties. Remember, this letter is documentation of your actions as well as a notification to the recipient.

You can send them a letter demanding anything you want. Just don't expect them to pay any attention to it. In SOME states you can do that. BUt you didnt post your state, soooo.....

The repo will effect your credit. The judgment the lender will get will effect your obligation to pay the deficiency balance. the letter wont effect anything UNLESS the car WAS stolen.

No they can not collect one PENNY - It is a law in MD . See financial regulations website state of MD

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.