Legal Question in Credit and Debt Law in Massachusetts

Re: Vehicle Repossession in Massachusetts

Motor vehicle repossessions are governed by Massachusetts General Laws, Chapter 255B, Section 20A ( Massachusetts Motor Vehicle Installment Sales Act). The prerequisites a creditor must comply with in order to repossess a vehicle within the Commonwealth of Massachusetts are thus;

1)The creditor must send a written notice 10 days or more subsequent to default;

2)The notice must conspicuously state the rights of the buyer upon default. The heading must read "Rights of Defaulting Buyer under the Massachusetts Motor Vehicle Installment Sales Act.";

3)The notice must advise of the debtor's right to cure the default by paying to creditor the amount due before the date, which must be at least twenty-one days after notice is mailed. The notice further advises that if amount is paid, within allowed time, that consumer will no longer be in default, and may continue with transaction as though no default had occurred;

4) The notice must further advise that if creditor takes possession of collateral, that consumer may get it back by paying the full amount of debt plus any reasonable expenses incurred by creditor if required payment is made within twenty days after creditor takes possession. Chapter 255B, Section 20A;

5)If a debtor has cured a default after notice three or more times, no subsequent notice need be given to repossess the collateral.

These are the basic rights and duties involved in repossessing a motor vehicle. Please feel free to contact me direct for a free initial consult based upon the facts of your specific situation.;))