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Lender hires a repo person who takes possession of the vehicle. If it's locked up, repo person can't break and enter. Police are notified of the repo by the repo person. The owner of the vehicle has a few (?) days to either cure the default, or pay off the loan. The creditor must send a notice to the debtor, who has certain rights (but see below re: credit unions). The repo person has to segregate any personal possessions in the vehicle and return to the owner, regardless of the vehicle status. There are special (unfavorable to debtor) rules for credit unions.
Gerald McNally
206 N. Jackson St. #100
Glendale, CA 91206
----- Original Message -----
To:
cdcbaa@yahoogroups.com
Sent: 12/17/2008 6:47 PM
Subject: [cdcbaa] Car Repos
I can't believe that I don't know this, but c'est la vie.
Once a lender decides to repo a car, what is the legal process?
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal Specialization.
Business bankruptcy specialist cert. by Amer. Bd. of Certification
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