Most people who buy a new or used car have to finance the vehicle through a bank. In other words, they take a loan to buy the car and then pay the loan back over a set number of years. Some people fall on hard times and can’t afford to make the monthly payment. If that happens, the bank who issued the loan will come take the vehicle through a repossession.
Under Pennsylvania Law, a bank may repossess a vehicle by almost any means. The repossession company may take it from your driveway, from your work parking lot, or even from an open garage. That company cannot enter a completely enclosed structure and may not breach the peace during the repossession. Anymore, breach of the peace cases are rare.
What is more likely is that the bank didn’t follow the law after the repossession. Most banks that finance vehicles are not local Pennsylvania banks. As such, they may not know Pennsylvania’s Motor Vehicle Sales Finance Act controlling repossessions. The biggest mistake we see is the lack of repossession letter. This is a letter that the bank has to send you in a reasonable amount of time after the repossession. This letter tells you that your vehicle has been repossessed, where it is located, what you have to pay to reinstate the loan, and how long you have to get your possessions our of the vehicle. There are quite a few instances out there that this letter is never sent. Sometimes, the letter is sent, but it contains the wrong information.
If your vehicle was recently repossessed and you have not received a letter, give us a call. Even if you did receive a letter, still give us a call. We will give you a free consultation to determine whether your repossession falls within the law.