Car Repossession

Car Repossessions and Auto Loan Charge Offs

If you default on your car loan, you can almost always expect the lender to repossess the vehicle. If, after a car repossession, you still owe money pursuant to the loan, the lender may go after you for the money.

Car Repossession: What Is the Difference Between Reinstatement and Redemption?

Learn about redemption and reinstatement after vehicle repossession, the difference between the two, and whether those options will be available to you.

Car Repossession: Notices the Lender Must Provide

Learn what notices your auto loan lender must provide during the car repossession process.

Deficiency After Car Repossession: Will I Still Owe Money?

The money owed after a car repossession is known as a “deficiency.” If a court issues a deficiency judgment, the lender can collect the money you owe for the car repossession deficiency using a wage garnishment, bank levy, or property seizure. Learn more.

Dealing With a Deficiency Judgment After Car Repossession

If your car has been repossessed and the lender sells it for less than the amount owed on the loan, the lender can go to court and obtain a deficiency judgment. A lender can take steps to collect the deficiency judgment against you even though the car was repossessed.

Car Repossessed After Filing Bankruptcy: What to Do Now

Learn why getting your car towed after you filed bankruptcy happens, why it's usually illegal, and the exact steps to get your vehicle back quickly.