Legal Question in Credit and Debt Law in Massachusetts

Re: car reposesion

Assuming you are a resident of Massachusetts, a creditor is allowed to repossess your vehicle as long they comply with certain requirements. Generally speaking, the creditor must; 1) have a valid security interest in your vehicle, 2) establish you are in default on your loan agreement, 3) repossess only if such repossession can be done in a peaceful manner without a breach of the peace, 4) give you proper notice of your right to cure, 5) allow you to redeem (pay off the balance owed) after repossession and retake possession of the car and, 6) not pursue a deficiency judgment against you if the difference between the value of the car and the loan is less than $2000. Consult with a licensed attorney in your area if you need specific advice, or contact my office direct.