Repossessing Motor Vehicles – What to Know and Do Before You Pick Up Collateral

Repossessing Motor Vehicles – What to Know and Do Before You Pick Up Collateral

REPOSSESSING MOTOR VEHICLES (Part I)

What to Know and Do Before You Pick Up Collateral

Live Webinar – May 16, 2024

Repossessing motor vehicles is serious business! Because of the impact repossessions have on consumers’ lives, all states have complex laws that govern every part of the pre- and post-repossession process. Not knowing, understanding, and carefully following these laws can cause the loss of deficiency balance rights, significant financial penalties, and public embarrassment for the violating creditor.

Many repossession-related lawsuits are triggered by things that happened before the repossession occurred. During this Part I of the Repossessing Motor Vehicles program, attorney Eric North will talk with participants about crucial steps creditors must take before placing a repossession order and while the order is out. Discussion topics will include —

• Which state’s law should a creditor follow? What important step can a creditor take to significantly reduce risk in this area?

• How to be sure you have the right to repossess. (Being “on title” isn’t nearly enough!)

• “Right to cure” letters: what they are and how to find out if you need to send one.

• How to wisely choose a repossession agent for regular use or for use in a single case.

• Important legal requirements for agreements between you and a repossession agent and how ignoring those requirements can affect you.

• What your options are if collateral is being hidden and important (and often overlooked) steps you can take that will help you if the borrower later files bankruptcy.

• What you should and shouldn’t say to a borrower while a repossession order is out.

• Last minute things to check before placing the repossession order.

For more information, call NorthLegal at 623.537.7150.

* Registration entitles the participant to a single connection during the live program and unlimited access for participant’s employees to the archived version for six months after the program ends.

UPCOMING CONFERENCES IN 2024

Repossessing Motor Vehicles – What to Know and Do Before You Pick Up Collateral – Repossessing Motor Vehicles – What to Know and Do Before You Pick Up Collateral – Repossessing Motor Vehicles – What to Know and Do Before You Pick Up Collateral

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