How to Handle Vehicle Repossession

Nerd Wallet

If you think your car could be repossessed, you might feel that you’ve reached the end of the road. But there may still be ways to avoid repossession or, barring that, lessen its damage. The article How to Handle Vehicle Repossession originally appeared on NerdWallet.

INDIANA REPOSSESSIONS DURING COVID-19 PANDEMIC

Indiana Consumer Law Group

It is my hope in these trying times that creditors exercise restraint and avoid repossessions altogether. Unfortunately, I am afraid that repossessions are still going to occur during the Coronavirus Covid-19 pandemic. First, repossessions are likely prohibited.

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Car Payments and Car Repossession

Sawin & Shea

Is a car repossession looming in your future? Car repossession is one of the many reasons people contact the Indiana bankruptcy attorneys here at Sawin & Shea. Here’s some good news: You don’t have to just give up and allow your car to be repossessed.

Car Repossessions During the COVID-19 Crisis

Sawin & Shea

I’m here to talk to you today about repossessions. I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. There is no state mandate keeping them from repossessing cars. Transcript.

Can you keep a car once the lender starts repossession efforts?

Roths Child Law

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. In Florida, a secured creditor may use self-help repossession without going to court, provided it does not “breach the peace.” § 679.609(2)(b), Fla.

Consumer Financial Protection Bureau Settles with Nissan Motor Acceptance Corporation for Illegal Collections and Repossession Practices

Consumer Finance

The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide. Press release Auto loans Enforcement

Santander Sued by Indiana Consumer for Breach of Peace Repossession

Indiana Consumer Law Group

over a repossession that allegedly did not comply with Indiana law. Specifically, the repo agent is alleged to have breached the peace in repossessing the plaintiff’s vehicle. Indiana law, like most states’, permits a lienholder to repossess a car when the owner defaults on the note. One of those requirements is that the repossession absolutely must be conducted without a “breach of the peace.” PRESS RELEASE.

Nissan Becomes Most Recent Target of CFPB Ire: Auto Finance Company Enters into $4 Million Consent Order for Alleged Unlawful Repossession Acts

Troutman Sanders

Specifically, the CFPB alleged that Nissan violated the Act in four ways: By repossessing vehicles between 2013 and 2020 even though customers had already made payments or taken action that should have prevented repossession; By requiring customers to pay a $7.95

Tri-Force and Ally Financial Sued for Wrongful Repossession in Indiana

Indiana Consumer Law Group

The lawsuit alleges that agents of Tri-Force breached the peace when they attempted to repossess a vehicle from our client and then, when our client physically resisted the repossession (as was his legal right to do), engaged the police to coerce our client to relinquish possession of the vehicle and thereby accomplish the wrongful repossession. Our office has noticed a disturbing trend of more aggressive repossessions in 2017.

CFPB Supervisory Highlights: Auto Loan Servicers Should Re-Examine their Repossession Fee Policies

Consumer Financial Services Law

Auto loan servicers need to pay careful attention to their repossession practices and particularly, their policies concerning repossession fees. The clear message from the CFPB’s Supervisory Highlights is that examiners are focused on repossession activities, “including whether property is being improperly withheld from consumers, what fees are charged, how they are charged, and the context of how consumers are being treated to determine whether the practices are lawful.”

What Is the Automatic Stay in Bankruptcy?

Nerd Wallet

The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate.

How Do Car Loans Work?

Nerd Wallet

Until you fully repay the loan, the lender holds the title to the car and can repossess it if you fall behind. Car loans work by providing a lump sum of money for you to buy a car. Then, it’s yours to drive, while also making monthly payments on the loan (with interest) over time.

Landlord Tenant Evictions rise by 207%

UK debt collections

Additionally, Mortgage repossessions by bailiffs increased by 756% from 45 between April and June to 385 between July and September. The latest statistics released by the Ministry of Justice have shown there were 4,853 landlord possessions across England and Wales between July and September.

NMAC Pays $5M In CFPB Consent Order; Third-Party ‘Deprived’ Consumers of Lower Pay-by-Phone Options

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it had entered into a consent order with Nissan Motor Acceptance Corp.,

The Automatic Stay and Bankruptcy

Sawin & Shea

This means it can protect you from: Home foreclosures Lawsuits Evictions Wage garnishment Vehicle repossession Utility disconnection Other creditor collections Repossession of estate property Harassment.

The Automatic Stay and Bankruptcy

Sawin & Shea

This means it can protect you from: Home foreclosures Lawsuits Evictions Wage garnishment Vehicle repossession Utility disconnection Other creditor collections Repossession of estate property Harassment.

Bankruptcy and Tax Refund Strategies

Sawin & Shea

Perhaps you can’t wait to file for bankruptcy because you have a repossession pending or a garnishment that’s about to hit your paycheck. We can talk to you about your tax refund and how a repossession or garnishment could impact it.

Bankruptcy basics: Here are the debts you cannot clear with bankruptcy

Roths Child Law

However, if you stop making payments on your mortgage, the creditor is within their rights to repossess the home and put it up for sale to recover the deficiencies. When hard times hit, declaring bankruptcy may be the most sensible thing to do.

What are the disqualifiers to filing for Chapter 7 bankruptcy?

Roths Child Law

Debt can quickly mount if you don't aggressively address it early on. Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy.

What Does a Chapter 13 Repayment Plan Look Like?

Sawin & Shea

It stops creditors from pestering you and halts repossessions and foreclosures while you work on creating a repayment plan that’s reasonable for you to repay based on your income and assets. It’s a smart choice to file for Chapter 13 bankruptcy.

Why you might want to file for bankruptcy

Roths Child Law

Furthermore, they are not able to garnish your wages, repossess property or foreclose on your home. Filing for Chapter 7 bankruptcy can be an effective way to eliminate a variety of unsecured business or personal debts.

60% of Private Landlords owed rent arrears

UK debt collections

One year on from the first ban on the repossession of rented homes, the analysis shows that more tenants are likely to lose their homes in the long term as a result. It is taking an average of a year from a private landlord making a claim to repossess a property to it being enforced.

Partner with certified Debt Collection Agency

Debt Recoveries

Established in 1961, the Institute of Mercantile Agents Limited (IMA) represents collectors, investigators, process servers and repossession agents throughout Australia. The cashflow of every business is an important factor to keep the operations of the business afloat.

Surviving Debt – Free Book During Coronavirus Pandemic

Debt Free Colorado

Vehicle Repossessions. Free book about dealing with debt during COVID-19. The National Consumer Law Center is offering free access to the digital version of its book, Surviving Debt, during the COVID-19 emergency.

Maryland Appellate Court Rules Plaintiffs Asserting CLEC Claims Must Allege Facts Showing Damages or Show Equitable Relief Is Proper

Troutman Sanders

After Bolling defaulted, the vehicle was repossessed and sold for less than the principal amount of the subject loan. After the Colbert plaintiff’s vehicle had been repossessed and sold, she filed suit, alleging a violation of CLEC arising out of convenience fees.

SBA Loans: How to Maximize Recovery by Liquidating Personal Property

Jimerson Firm

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace.

What Debts Will Remain After A Chapter 13 Discharge?

Sawin & Shea

The kinds of debt that can typically be eliminated are credit card debt, medical bills, utility bills, evictions, repossessions, and personal loans. Chapter 13 bankruptcy can wipe out most kinds of debts and leave you with a much brighter financial picture.

Why you might want to file for bankruptcy

Roths Child Law

Furthermore, they are not able to garnish your wages, repossess property or foreclose on your home. Filing for Chapter 7 bankruptcy can be an effective way to eliminate a variety of unsecured business or personal debts.

Considerations before you file for business bankruptcy

Roths Child Law

Do you need immediate relief from garnishment, repossession or other aggressive collection methods? It is difficult to run a small business, and you may find that your company is struggling financially.

The unseen effects of carrying a significant amount of debt

Roths Child Law

They may send letters, call frequently, threaten to foreclose on the home or even repossess the consumer's property. Owing a significant amount of debt is a stressful time for a Tennessee consumer. One of the most common consequences of this problem is attempts from creditors and debt collectors to get payment from the individual. This can feel embarrassing, overwhelming and cause emotional distress.

Filing Bankruptcy Without Your Spouse: What Happens to Debts & Property?

Sawin & Shea

This means a foreclosure, repossession, garnishment, or other action can continue against your spouse even after you’re freed of it through bankruptcy – but only if their name is on the debt.

NCLC report: States that Put Families at Risk of Poverty During the Covid Crisis

Public Citizen

Once the pandemic recedes, families struggling to get back on their feet are likely to face a wave of debt collector lawsuits for medical bills, back rent, credit card debt, the balance due on repossessed cars, and even utility bills. The National Consumer Law Center issued a report on the impact of debt-collection during the pandemic and state laws that help, or harm, struggling families.

Dealing With Debt From COVID-19

Debt Free Colorado

They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. How do I pay my Bills if I’m out of Work due to a Stay-At-Home Order?

Understanding Indiana Foreclosure Laws

Sawin & Shea

This allows them to begin the foreclosure process on your home, which will ultimately cause your home to be repossessed and sold at what is called a sheriff’s sale unless some type of intervention takes place.