If you’re facing vehicle repossession in Georgia, you’ll want to learn more about your rights. The Georgia Vehicle Repossession Law does not give you a grace period to pay off your loan. Instead, repossession can occur after one day late or dollar short. Thankfully, there are ways to fight repossession in Georgia. Listed below are some of your rights and options. Keep these guidelines in mind and you’ll be able to fight back and save your car.
If you fall behind on your payments, repossession may be imminent. Repossession may occur if you miss a single payment. Repossession notices from lenders are often your only warning. Moreover, if you don’t respond to a repossession notice, lenders can pursue you in court for the difference. A repossession and deficiency judgment will appear on your credit report for seven years. While repossession can be avoided, it is better to be upfront and honest with your lender.
If you can’t make your monthly payments, consider filing for bankruptcy. Filing bankruptcy can stop repossession proceedings and give you time to sort out your finances. You can avoid repossession by hiring a bankruptcy attorney. A bankruptcy filing also gives the repossessed car owner a legal right to redeem it within ten days. When you’re filing for bankruptcy, you’ll also stop all collection efforts from continuing. If you have missed payments or other obligations, filing bankruptcy will protect your car.
In some cases, repossession laws in Georgia will allow a repossession company to recover repossessed property. In most repossession cases, the lender can sell the vehicle at an auction. In Georgia, repossession laws require that the lender send a redemption notice to the owner within a reasonable period of time. This notice will tell you what the outstanding balance is on your repossessed vehicle. You can contact a certified attorney for help with repossession laws in your state.
Repossession laws in Georgia do not allow repossession agents to trick you into signing up for services. If you are unable to make the payment, repossession agents can legally repossess your vehicle, and you don’t even have to be present to protest the repossession. The Georgia repossession law does not allow mortgage lenders to repossess your home. To be legally repossessed, your home must be in foreclosure and auctioned.
Repossession companies must return any personal or professional materials from the car to you. You can also hold the repossession company liable for legal fees and costs. Lastly, repossession companies cannot enter your home unless you grant them permission. Moreover, repossession companies can’t break any laws if they use violence or force to take your vehicle. The repossession process is a very stressful and confusing time for many people.
If the creditor has the right to repossess a vehicle in Georgia, the creditor must provide a redemption notice stating the amount owed and the reasonable fees it has collected. If the car isn’t sold within ten days of repossession, the creditor can’t keep the personal items you had with you in it. The creditor can keep personal items, but can’t keep the vehicle.