Legal Question in Credit and Debt Law in Florida

Re: can credit card co take my car

Very unlikely. The credit card co is not in the business of repossessing automobiles. The extra work it takes for them to manage something like that is way more hassle to them than it's worth.

However, if you had a finance agreement with a lender, and the lender financed the purchase of your car, and the car was repo'd - you'd still be liable for payments on the finance agreement even thouh you no longer had physical possession of the car.

Re: can credit card co take my car

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Yes, they can take the car but it is unlikely as they usually do not want to take vehicles where they cannot get a clear title. An exception might be if there is only a small balance on the loan for the car and the creditor decides that there is plenty of equity in the vehicle to make it worth taking and paying off the lendor which they must do in order to get a clear title.

Scott R. Jay, Esq.