Your Options During A Vehicle Repossession

Posted on: 15 June 2015

Bills pile up, time slips away and circumstances conspire against many people, the result of which can end up being a repossession order for your vehicle. While many auto loan companies do their best to work with their debtors to ensure that loans don't default, repossessions are sometimes a necessary step in discharging a loan. For the average vehicle owner, it's important to know what your options are when the repossession company arrives to take possession of your vehicle.

Legal Standing

In simple terms, the repossession agency is acting on behalf of the loan company or bank in an effort to collect on a debt. While they may need to notify local law enforcement of their intent and activities, they are acting completely within the law.

Unfortunately, this legal standing doesn't extend to negotiations, as the repossession agent is only authorized to recover the vehicle for which the loan was issued.  In other words, there's little point in pleading your case to the person hooking up your car to their tow truck. What you can do is ask who you need to contact about regaining possession of your vehicle and calmly hand over your keys.

Your Rights and Options

Each state varies when it comes to the protections afforded to citizens subject to repossession orders. Several states limit the locations where repossessions can take place, and others limit the lengths to which a repossession agent can go to obtain the property in question. If you're uncertain about the legality of a particular repossession order, you're within your rights as the property owner to inquire about documentation. In cases that seem questionable or unclear, you're within your rights to contact local law enforcement for mediation and clarification.

If it turns out that repossession of your vehicle has been legitimately ordered by the loan holder, then your options may be limited. In any situation, the repossession agent has a great deal of leeway when dealing with a vehicle owner, so it's in your best interest to be polite and respectful. If you agree to hand over your keys, there's a good chance you'll be able to remove your personal property from the vehicle.

Once your vehicle has been towed, it will be up to you to settle any issues you have with the loan holder. Odds are you'll need to pay down any past due amount owed on your loan. Once you've done this, and paid any impound fees associated with the tow yard, most repossession agents will allow you to drive your car home.

For more information, contact Tri City Towing And Recovery or a similar company.