Repo – Stop Repossession ASAP in Raleigh, NC!
Repo Under the Uniform Commercial Code,
any repossession (repo) of any property must be done in a commercially reasonable manner and with notice to the Debtor. If a car lot fails to sell the car or truck in a reasonable manner or if it fails to give you notice, you may not be liable for the deficiency (you may own nothing). If the sale is not commercially reasonable, or if proper notice is not given, you may sue a bank for conversion (theft). Auto sales and financing are full of consumer law violations including fraud and high-rate home-secured loans that strip equity from senior citizens.
Most of the threats of repossession (repo)
of personal property are bluffs and illegal threats. In order to legally repossess (repo) a car or other property, a creditor cannot breach the peace. This means that if they really want to get the property you can force them to get a court order. You can call the police and have them ordered off your land and even put in jail if they fail to leave. If a creditor (or repo man) uses threats to attempt to get property, you should record the repo, get witnesses, and call the police. They have no legal right to get property unless they can do it without breaching the peace. Sneaking in and stealing the car in the middle of the night from where you parked it in the street is legal. Threatening you or forcing themselves inside a home or garage is not legal in a repo. NOTE: If your vehicle is in your driveway they can repossess it if you don’t catch them and tell them to stop. Once their front tires hit the public road, wave goodbye to your car! Of course, Cameron Law can get that repo’ed vehicle back for you!
GENERALLY creditors do not actually repossess (or repo)
a vehicle until you are 3 or more months behind in payments. They cannot break into a garage or harm any of your personal property (such as a chain around the axle) while repossessing the vehicle. Once repossessed, they must give any personal property that was in the vehicle back to you if you request it — but beware. Some will charge storage fees, or charge to get the personal property out of the vehicle for you. Many times they will claim there was no personal property in the vehicle — and you will be hard pressed to prove there was personal property stored there. It is nearly ALWAYS best not to leave personal property in any vehicle that could get repossessed (repo’ed)!
A Chapter 13 will STOP the danger of repossession (repo)
— as long as you continue making payments on the vehicle through the Chapter 13 plan or to the creditor directly. Many times a Chapter 7 can save a vehicle from repossession if it is redeemed or reaffirmed. If you have a vehicle that you wish to keep that is in danger of repossession, it is important that you file bankruptcy as soon as possible. Many times we have seen people take their time and lose a vehicle that they wanted to keep. We can file an emergency bankruptcy in a day or two, and if you are in danger of losing your vehicle, you need to ask us to do this.