Repossession

What is Repossession?

If you have borrowed money that is secured by a car, furniture, equipment or other property and fall behind in making payments, the creditor has the right to take the security or property back, aka repossess it. The State of Georgia allows the creditor to sell the property and then sue you for any outstanding balance and fees not recovered in the sale.

Aggressive creditors can begin contacting you if you are more than 10 days late on a payment. Most banks and large creditors wait for 60 or 90 days but add additional interest and fees.

Repossession is not only embarrassing but can have serious negative consequences on your credit score. We are here not to judge you but to offer help and protection from unscrupulous and aggressive creditors.

Creditors cannot resort to sending bullies or musclemen to harass you. They cannot breach the peace or call the police for assistance to repossess your car or property. They cannot cut chains or break into a locked garage to take your car, but leaving your car in your garage can technically be interpreted as hiding your car and is illegal.

You do have rights! If you are having difficulty making your payments in a timely manner contact us as soon as possible. The sooner we start to work for you the more options we will have to stop a repo and save your credit.

Some options include but are not limited to:

Pay the full amount of the defaulted payments
Seek a short-term loan to catch up on missed payments
Refinance the loan
If all else fails there are bankruptcy options we will explore with you as a last resort