Car Repossession May Not Be Necessary!
A skilled auto repossession lawyer will provide you with your legal options to stop, reverse or mitigate a repossession.
Almost any personal possession can be subject to repossession if the personal property was used as collateral for the loan obtained to buy the object. The most common item repossessed is a vehicle. However, furniture, jewelry and even animals can be claimed in a repossession.
Your vehicle is collateral for the loan you received in order to buy it. That means that if you miss a payment, the car or truck could be repossessed by the creditor. That creditor, be it a bank, other financial institution or even an individual, can try to individually repossess your vehicle. If the creditor or the representative of the creditor comes to your home to take the car or truck, you have the right to refuse to turn over the vehicle. You also have the right to tell them to leave your home and property. Pennsylvania law requires that they honor your instructions. Then they must go to court to get the property back or sue you for the amount owed. If the repo man fails to comply with your request, causes damage or breaches the peace, our car repossession attorney may be able to assist you.
In order for any court proceeding to be valid, a written security agreement, signed by you, must exist. Laws that are pertinent to vehicle repossession are the Uniform Commercial Code and the Pennsylvania Motor Vehicle Sales Finance Act. Chapter 7 bankruptcy and Chapter 13 bankruptcy may protect your vehicle from repossession. Bankruptcy may also discharge the debt obligation on that vehicle.