The information listed below provides a brief summary of individual state laws regarding secured transactions. Since an automobile loan is almost always a secured loan — meaning the financed property is the collateral — theselawsare applicable to situations involving auto repossessions. ALABAMA When re...
If the lender does not get enough money by selling the vehicle at auction, the difference is calledthe deficiency amount. Georgia repossession laws allow the lender to collect the deficiency from the buyer. But they only have this right if they sent out written notice of the repossession and ...
If you default on a car loan in New York, the lender can ask you to turn over the car at a mutually agreed upon place. The lender also has the right to disable or repossess the car, as long as it doesn't break any laws or disturb the peace to do it. Lenders don't need to ...
The state of Texas allows lenders to repossess vehicles via "self-help" auto repossession, meaning they can hire an unlicensed repo company to tow away a car whose owner, the borrower, is delinquent on car payments. However, this is not an anything goes scenario – Texas repossession laws h...
Phoenix Repossession can handle them all. Call us today to discuss your repossession needs. I'm sure you will find the staff at Phoenix Repossession more than willing to answer any questions that you may have regarding repossession laws, repossession situations or any other Repossession related ques...
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State laws regulate much of the repossession process. In many states, you can repossess the car as soon as the payment is indefault, a date that depends on the owner's loan or lease agreement. Federal law prohibits anybreach of the peacein a repossession, but what that term actually mean...
STATE lawsThis paper studies how the ease of repossessing collateral in bankruptcy affects corporate leasing policy. Using plausibly exogenous variation of the ability to repossess assets generated by state antirecharacterization laws, I find that the antirecharacterization laws, which ...
Car Repossession in the State of Louisiana The majority of people typically get loans when buying a vehicle. When financing it with a lender, the borrower signs a contract stating that they will make payments to that lender. If they miss payments, the lender can repossess the car. Each sta...
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