Repossession of a car

LIST Code

MO-12-01-08-00

Title

Repossession of a car

Definition

This legal issue covers problems related to a lender or creditor taking back a vehicle after a borrower falls behind on payments or otherwise defaults on an auto loan or lease. It includes understanding when a car can be repossessed, what notice (if any) is required, and whether the repossession was carried out lawfully. This category also includes disputes about improper or wrongful repossession, such as repossession without legal authority, breach of the peace, taking the wrong vehicle, or repossessing a car after payments were made or an agreement was in place. Legal issues may arise if the repossession agent damages property, uses threats or force, or violates consumer protection laws. In addition, this issue covers what happens after a vehicle is repossessed, including the borrower’s rights to recover personal property from the car, reinstate the loan, redeem the vehicle, or challenge fees and charges. It may also involve disputes over the sale of the vehicle, deficiency balances, and the borrower’s remaining financial obligations.

Other Taxonomy Terms

These terms in other taxonomies are equivalent to this term. They are mapped to each other.

• NSMI v1 Taxonomy: 1020600

Location in LIST