Before a Vehicle Repossession
If you anticipate a repossession occurring, evaluate the items left in your vehicle. Although personal property can be retrieved after repossession, items could go missing or be damaged in the process of repossession.
Take steps to protect your possessions:
-Remove all important car purchase and finance documents from the vehicle
-Remove all personal items – car seats, laptops, medications, handbags, etc.
-Note the mileage on the vehicle
-Photograph or Video the condition of your vehicle — interior and exterior.
During the Auto Repossession
-Take note of events during the repossession.
-Videotape/photograph the vehicle and events at the scene.
-Date and time
-Repo Company Name
-Witness names
-Police Officer names & badge #
After the Auto Repossession
The lender is required to provide notices to the borrower after the repossession and sale of the vehicle. These notices are called:
Notice of Intent to Sell Property
The first notice confirms the vehicle was repossessed and informs the borrower of the amount owed and terms to retrieve the vehicle. It will state the vehicle’s location for retrieval of personal property. If the borrower can not meet the terms, the lender will sell the vehicle at an auction or private sale.
Deficiency Notice
Once the vehicle is sold, a second letter is sent to the borrower. It confirms the selling price of the vehicle and calculates any remaining balance owed to satisfy the loan, including charges for storage and the repossession fee.
If the vehicle sold for more than the amount owed to satisfy the loan, the notice will detail the surplus balance.
Collection of Deficient Auto Loan Balance
The lender may attempt to collect the deficient balance from the borrower or assign the collection to an agency or collection law firm. If the debt is not collected, the lender may choose to file a lawsuit against the borrower.
If you have been sued, do not ignore it.
A default judgment could be entered against you. 
Judgments are dangerous. The lender attempt collection of the judgment through bank attachment, seizure of property, or in many states, wage garnishment.
Seek Legal Help from a Qualified Consumer Lawyer
Flitter Milz is a nationally recognized consumer protection law firm experienced in auto repossession law and the pursuit of cases against banks, credit unions, or financial institutions that violated the borrower’s consumer rights. For a no cost consultation, Contact Us. We will ask that you gather a copy of your complete signed loan agreement, along with correspondence from the lender sent AFTER the repossession, for the legal review.
