- Vehicle Repossesion: Seizing the Vehicle
- Vehicle Repossession: Selling the Car
- Vehicle Repossession: Paying the Deficiency
- What should I do if I am unable to meet my car loan payments?
- Should I voluntarily surrender my car if I cannot make the loan payments?
- Do I have the right to cure the default if I miss car loan payments?
- If I am unable to cure the default on a car loan, do I have a right to redeem the vehicle?
- Could bankruptcy help me prevent my car from being repossesed?
- U. S. Bankruptcy Court - District of Delaware
Vehicle Repossession In Delaware
When you finance or lease a car, truck or other vehicle, you usually give the creditor an interest in the vehicle to secure the loan debt. This interest allows the creditor to take your vehicle when you have missed loan payments and have not resolved the problem by contacting the creditor to work out an alternative payment arrangement. When the creditor takes your vehicle, it is called a "repossession." The creditor can repossess your vehicle without going to court and without prior notice unless your security agreement requires notice.