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It's called the Uniform Commercial Code (UCC). Go to this web page http://www.michigan.gov/documents/article9_18815_7.pdf This will explain what the creditors responsibilities are such as timeframes, methods of sale, notification, etc.
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∙ 15y ago
In Michigan, lenders can repossess a vehicle if the borrower defaults on the loan. The lender must provide written notice and an opportunity to cure the default before repossessing the vehicle. Repossessions must be done peacefully and without breaching the peace.
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Can you collect a repossession fee if you do not send a pre repossession letter in Maryland?
In Maryland, a repossession fee cannot be collected if a pre repossession letter was not sent to the debtor. The letter is a legal requirement that must be provided before repossession can occur, and failure to send it could invalidate the repossession.
Can an Ohio debt collector garnish your spouses income in Michigan if the debt was originated in Michigan-Are they bound to Ohio law or Michigan law?
In this situation, the Ohio debt collector would need to follow Michigan law regarding garnishment of a spouse's income, as Michigan law would apply to the state where the income is earned. The debt collector would not be bound to Ohio law in this case. It is important to consult with a legal professional familiar with both Ohio and Michigan laws to understand the specific implications and requirements.
Does Virginia have a peaceful repo law?
Virginia does not have a specific peaceful repossession law. Repossession agents in Virginia must comply with state laws and regulations that govern repossession practices, which generally require that repossession be done without breaching the peace. However, the term "peaceful repossession" may not be explicitly defined in Virginia statutes.
What is the law in Colorado for car repossession?
In Colorado, a lender cannot repossess a car until the borrower is in default, which typically means missing a payment. The lender must provide the borrower with a right to cure notice giving them a chance to catch up on payments before repossession. Repossession agents must also follow regulations including not breaching the peace during the repossession process.
Is it against the law in Oklahoma to hide a vehicle from the repo man?
Yes, it is against the law in Oklahoma to intentionally hide a vehicle from the repo man. Doing so can lead to legal consequences and even criminal charges for obstructing repossession. It is important to comply with the repossession process to avoid legal issues.
What is the law on repossession of property in Michigan?
Self help and you may not breach the peace.
Do you need a repossession license to work for a repossession company in Michigan?
only a drivers license
Can police help the repossession men take your car in Michigan?
Possibly, but they can certainly prevent you from interfering, as it is no longer your car, hence the repossession.
Is a cosigner liable for an automotive repossession in Michigan?
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
Are there any car repo companies in Detroit Michigan?
Yes, there are. Most repossession services are actual towing companies who also do repossession work.
What is Florida repossession law?
on products, not vehicles
What is Michigan lemon law?
a law in Michigan about lemons
Does Michigan have a bullying law?
michigan does not have a bullying law?
What is the car repossession law in Arizona?
check with your court house.
If a car is sold after repossession does law state that it must be reported to the bureau as zero balance?
If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?
When was Michigan Law Review created?
Michigan Law Review was created in 1902.
Can a repo take place at your work in Florida?
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.
