Legal Question in Banking Law in California
auto repossesion
does the the bank have to by law call or notify the name on the loan docket when it has gone delinquint . or in my case (CALIFORNIA) just show up and repo my vehicle without ever calling me and letting me know that the loan was in defalt I had no Idea that the loan was in default till the repo boys showed up and took my vehicle. Thank you!
Asked on 1/16/09, 9:09 pm
1 Answer from Attorneys
Joshua Swigart
Hyde & Swigart
Re: auto repossesion
If you are delinquent, the finance company has the right to repossess your vehicle without any warning. Typically they to do not do this as it is not profitable to repossess vehicles, auction them off and then lose money on the whole deal. They usually try to work the loan out in one way or another.
Answered on 1/18/09, 5:00 pm
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