Few things can be as depressing as having your car
repossessed. At Aucamps we can help. It is possible to
get your car back if you act fast. You can also obtain
compensation if the repossession agents breached the peace in
retaking your vehicle. You are urged to contact a bankruptcy
attorney for help.
What to Do When You Learn Lender
Intends to Repossess
In the usual contract for a car
loan, there is a provision where you agree to let the lender
repossess the car if you fail to make a payment. If you receive
notice that they intend to repossess your car, your best action
is to contact them and pay up. If you have experienced hardship
and cannot make the payments at the level originally agreed to,
it is possible to seek a modification of the original agreement.
As your attorneys, we negotiate with the loan company to reduce
your payments to what you can afford.
Breach of the Peace in
Should the repo agents come to
take the car, they may not cause a breach of the peace. This
means they may not take it over your objections. They cannot use
force and certainly may not haul it away with you in it.
Repossession Attorney Helps Clients after Repossession
Once they take the car, you have a short time to reclaim the
car. We can help you in this action. It is often necessary to
pay off the entire loan but we can negotiate for you to be able
to "cure" the default by a satisfactory payment and commitment
to resume payments faithfully.
After repossession, a sale
is usually set within 10 or more days. At the sale, the car is
auctioned. The loan company is likely then to sue you for a
deficiency judgment for the amount of the outstanding loan plus
repossession costs less the money recouped in the sale. We can
defend you against this suit and counterclaim for damages for
any breach of the peace that occurred in the repossession.