The American Financial Services Association (AFSA) is maintaining a chart of changes to auto finance, collections and repossession laws on a state to state level, including a chart and map specific to repossession activity. The AFSA’s “STATE VEHICLE FINANCE POLICY CHANGES DUE TO CORONAVIRUS“ chart, while not up to date, as evidenced by Nevada and Illinois’s June 1st actions, does appear to provide some reasonable guidance at the national level and if maintained could provide some fair amount of guidance to the what is a constantly changing picture.
Unfortunately, this deals with the collections and repossession situation purely at a legislative level and does not address to cross-concerns over potential breaches of peace that could be determined at the civil level from repossession or collection activities engaged during a state of national or state emergency.
Still absent at any level, is the determination of “essential workers” as they pertain to vendor support services providers to financial institutions.
Clearly stated on the footer of the AFSA’s carts is the statement “Content is general information only, not legal advice or legal opinion based on any specific facts or circumstances. For your company’s compliance, please seek legal advice. AFSA expressly disclaims any and all liability that may result from reliance on this document.”
As a source of reference, this is a very nice chart. This, as well as the National Consumer Law Center’s ( NCLC ) website are good sources of reference for the future, as this situation seems to be changing on a near daily basis.
Wise advice that we at CUCollector urges you all to confer with your own legal counsel all legal matters involving collections and repossession activity at a local, state and national.
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