Gather Important Documents
Remove all car purchase and loan documents from your vehicle immediately. Keep these documents in a safe place in your home, not in your car. In most cases, auto lenders are not required to contact you in advance of a repossession. If your car is repossessed, gather all car purchase and finance documents for review with an attorney.
Request a Loan Payment History from the Lender
Contact the lender for a complete Loan Payment History. This reflects all payments from the date the vehicle was purchased to the present.
If the payment history does not agree with your records, you may dispute the errors with the lender. If you defaulted on your payments, the payment history will show late fees, interest, or other charges added to your account. Be sure that the lender’s calculations are correct, and be specific with the dates and amounts if any payments were not recorded or were misapplied.
Photograph the Condition of Your Car
Take photos of your car that show the condition of the interior and exterior. Take a photo of the odometer reading.
Do Not Hide Your Vehicle
It is illegal to hide your vehicle if the lender is attempting repossession. Of course, the repo man can only repossess from a public place, so if you normally store your vehicle in a locked garage overnight, there is nothing wrong with continuing to do that.
Secure Any Agreement to Defer or Avoid Repossession In Writing
If you have an understanding with the lender to permit you to catch up on payments and avoid or defer a repossession, be sure to get that promise or agreement in writing. Whether you get a letter from the lender, have an exchange of emails, or send your own letter detailing the terms, it is important to create a document which confirms the agreement.