{"id":595,"date":"2019-04-11T08:36:53","date_gmt":"2019-04-11T08:36:53","guid":{"rendered":"https:\/\/www.consumerslaw.com\/blog\/?p=595"},"modified":"2020-06-02T21:06:31","modified_gmt":"2020-06-02T21:06:31","slug":"what-happens-when-your-car-is-repossessed-in-pa","status":"publish","type":"post","link":"https:\/\/www.consumerslaw.com\/blog\/what-happens-when-your-car-is-repossessed-in-pa\/","title":{"rendered":"What Happens When Your Car is Repossessed in PA?"},"content":{"rendered":"\r\n
\"Car<\/figure>\r\n\r\n\r\n\r\n

Car repossession can feel like the end of the world.\u00a0 Instantly, your daily life comes to a halt.\u00a0 You realize that you won\u2019t be able to get to work, take your kids to school, or make it to your appointments.<\/p>\r\n\r\n\r\n\r\n

<\/p>\r\n\r\n\r\n\r\n

We all know that when you default on a car loan the lender has the right to repossess the vehicle.\u00a0 But doesn\u2019t a borrower have any rights against the lender when a vehicle is repossessed in Pennsylvania?\u00a0 What steps can be taken to get the repossessed car back?\u00a0 Read on to learn the ins and outs of repossession in Pennsylvania.<\/p>\r\n\r\n\r\n\r\n

Are you a Victim of Car Repossession in Pennsylvania?<\/h2>\r\n\r\n\r\n\r\n
\r\n
\"\"<\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

Lenders, such as banks, credit unions and financial institutions, are not required to notify the borrower in advance of a repossession.\u00a0 However, after a vehicle has been taken, the lender must send a letter, known as a Notice of Intent to Sell Property<\/a><\/strong>, to the borrower which outlines terms to get the car back.\u00a0 This letter details the location of the vehicle, the amount to be paid to retrieve the vehicle, and the time period to act before the vehicle is sent for sale.<\/p>\r\n\r\n\r\n\r\n

To retrieve the vehicle, sometimes the lender may ask for payment of the full remaining balance owed on the loan.\u00a0 Other times, past due amounts, plus late and repossession fees may be accepted.\u00a0 If you can\u2019t come up with the money to recover your vehicle, the lender will sell it, either at an auction or private sale.<\/p>\r\n

\"\"<\/p>\r\n\r\n\r\n\r\n

Once a vehicle is sold, the lender must inform the borrower of the sale by sending a letter known as a Deficiency Letter<\/a><\/strong>. It is mailed to the borrower and will show the balance remaining on the loan, plus any additional charges, such as repossession and storage fees, the subtraction of the selling price of the car from the auction or private sale, and the final calculation, the Total Balance Owed, to satisfy the loan.<\/p>\r\n\r\n\r\n\r\n

Not all repossessions happen by the book<\/h2>\r\n\r\n\r\n\r\n

Creditors have every right to repossess a vehicle if the borrower defaults on the terms of the loan. But there are limits.\u00a0 Consumer protection laws guard against abusive tactics used by lenders and repossession agents.\u00a0 No matter what happens when your car is repossessed in Pennsylvania, you still have rights.<\/p>\r\n\r\n\r\n\r\n

The repo agent is barred from:<\/h4>\r\n\r\n\r\n\r\n