In the state of Ohio, your car may be repossessed if you miss one payment. Your car may be taken any time of the day or night by the repossession company. The repossession company is not allowed to keep any items that you may have left in the car. The company must inform you as to what they are going to do with the car, including selling it, putting it in a car auction, or keeping it.
yes
what are the legalities of voluntary vehicle repossession
NONE OF THE ABOVE. Call an attorney ASAP.
*More Info* I resided and registered the car in WV. I bought the car in PA. The finance company was out of Ohio. The lien went to a collection agency in CT, and I currently live in Alabama. Which state's laws would apply to my situation?
If my car is repoed and the car is not worth as much as I owe am I responsible to pay the differance?
The legal remedy for vehicle repossession is covered by UCC laws. Regardless of where the lender is located the car can be repossessed under the laws of the state where it was purchased or where it is now located, whichever means is most advantageous to the lender.
In Ohio, lenders can repossess a vehicle without notice if there is a breach of contract, such as defaulting on payments. However, they cannot breach the peace during repossession, meaning they cannot use force or threats. The lender must also provide notice within 24 hours of repossession and inform the borrower of their rights to redemption and reinstatement.
It isn't relevant as both states allow repossession of a vehicle under UCC laws (without a breach of peace).
who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?
How do you write a car repossession letter?
The repossession laws will vary with each city/state. A title loan company can't repo a car if the payment is not yet due unless the car is behind on payments.
Yes, I think it is. We have so many laws concerning things like that.