Tag Archives: default

Q&A about Vehicle Repossessions

When you obtain a loan to buy a vehicle, your car loan documents provide that your lender has the authority to repossess the car if you fail to make a timely payment. The contract should detail what events constitute a default, which can include a variety of events, but failure to make a payment occurs most frequently.

Vehicle Repossessions

Below are a few the questions we commonly get from our clients regarding the seizure of their car or truck. If you have a question not covered, however, please contact one of our knowledgeable attorneys for help.

Can the original contract be modified to change my payment terms? Yes, if the lender agrees to the modification. It is imperative that you get the loan modification in writing because proving a verbal agreement is difficult.

Does the creditor send notice before my car is repossessed? In most jurisdictions, your creditor is permitted to seize the collateral pledged to it at any time after default occurs, without providing notification to you. A repossession agent is permitted to go onto your property to take the vehicle, but only if the agent can do so without breaching the peace. This means that the agent can seize the car from your driveway, but he cannot use physical force, threaten it, or enter a closed structure to seize the car without permission.

What happens if the repo agent breaches the peace? Every case is different, but the creditor may be ordered by the court to pay a penalty and/or pay for any harm caused to you or damage done to your property. Depending on the circumstances, breaching the peace may also provide a successful defense if the lender files a collection lawsuit against you seeking to recover the deficiency remaining after the vehicle has been sold.

Can I recover the personal property that is in my vehicle when it is seized? The answer to this question depends upon what state you live in. In some states, the repossession agent must give you an inventory list of all the personal items that were in your vehicle when it was seized and instructions of how you can get them back. If a creditor cannot account to you for the items that were in your car, contact us to discuss whether you can seek compensation for such items.

Contact an Attorney at Faro & Crowder, PA today

If you are struggling financially and you want to discuss your debt relief options and how to avoid having your vehicle repossessed, contact us today to schedule an initial consultation.

Services Areas

We provide services throughout Central Florida including: Melbourne, Titusville, Palm Bay, Merritt Island, Cocoa, Cocoa Beach, Satellite Beach, West Melbourne, Cape Canaveral, Viera and Eau Gallie.

Get In Touch with Faro & Crowder, PA

Faro & Crowder, PA
Phone: 321-784-8158
Address:
1801 N. Sarno Road, Suite 01
Melbourne, FL 32935
Email: info@farolaw.com

The information on this blog or any blog is not intended as, and should not be taken as, legal advice.

Florida Foreclosure Process

Home2

If you are past due on your home loan payments, you are considered to be in default and the mortgage lender has the right to foreclose on your home. Your lender will typically send you notice of your default and the lender’s intent to accelerate the total amount due on the loan if you do not cure your default within a certain period of time.

If you fail to timely cure your default, the mortgage lender or servicer will refer your loan to an lawyer to pursue a foreclosure action. The lawyer will file a Lis Pendens in the county where the home is located, which provides notice to any other interested parties that there is a lawsuit being filed which impacts title to the property. A Complaint and summons are filed with the court clerk and they will be served on you.

Once you have been properly served, you have 20 days to respond to the allegations in the Complaint. If you fail to do so, the lender can obtain a default judgment against you. If you do respond, you can raise defenses, request documents and information regarding the lender’s claims, and other actions to protect yourself. At this point, the lawsuit proceeds until a settlement or judgment is reached.

If the lender is granted judgment against you, the court clerk will schedule a foreclosure sale. If no objections to the sale are filed, the clerk will transfer title to the property to the party who purchased it at the auction. Once title has transferred to the purchaser, you are no longer the property owner and you can be evicted if you are still living in the home.

The above is a very general summary of the foreclosure process in Florida and it is important to remember that no two cases are identical. If you believe foreclosure is in your future, contact us for a free consultation. The sooner we get involved in your case, the better. Our office is located in Melbourne, Florida.

Contact a Brevard County Bankruptcy Attorney at Faro & Crowder, PA

If you are interested in learning more about how a bankruptcy filing will impact your debt, contact Faro Crowder, PA to schedule an appointment. We are located in Melbourne, Florida on Sarno Road and serve residents and businesses of the Space Coast and Brevard County.

Services Areas

We provide services throughout Central Florida including: Melbourne, Titusville, Palm Bay, Merritt Island, Cocoa, Cocoa Beach, Satellite Beach, West Melbourne, Cape Canaveral, Viera and Eau Gallie.

Get In Touch with Faro & Crowder, PA

Faro & Crowder, PA
Phone: 321-784-8158
Address:
1801 N. Sarno Road, Suite 01
Melbourne, FL 32935
Email: info@farolaw.com

The information on this blog or any blog is not intended as, and should not be taken as, legal advice.

Contact Us For A Free Consultation






css.php