Q: In the state of virginia is a car loan servicer supposed to send a notice of default before repossessing a vehicle?
A:
our loan contract should specify exactly what constitutes a default that could lead to a repossession. Be sure you understand the terms of your contract Tow Truck Towing a Repossed Carbefore you miss a payment. Some contracts allow for a seizure of your vehicle as soon as you miss your first payment. In Virginia, lenders do not have to notify you prior to repossessing your vehicle. Repossession agents are permitted to come on to your property to take your vehicle, but are banned from doing any of the following:
Using physical force
Threatening physical force
Breaking into a closed garage or gated area
If an agent does any of these things, his employer may be required to pay a penalty and the actions may become a legal defense for you later on. Before your repossessed car is resold, the creditor must notify you of the date and time of the sale to allow you time to make the required payments to get the car back. If the creditor sells your car for more than you owed on it, you may be entitled to a refund. If however, it is sold for less than what you owe, you may have to pay the difference.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
