Cherney Law Firm Can Help you if your car was repossessed in Georgia
Vehicle Repossession Laws in Georgia
When a borrower takes out a car loan, or leases a car, they will sign a loan agreement (promissory note) to pay back the loan in installments. During this period, the lending company is the one who actually owns the title to the car, not the borrower. If at any time during the agreed payment period the borrower defaults on the loan, or falls behind on payments, the lender has the right to take the car back. This is called a Vehicle repossession and it is perfectly legal in the state of Georgia.
How Many Payments Can You Miss Before Your Car is Repossessed?
There is no set time limit on when your car can be repossessed if you have defaulted on your loan. Technically, when you are even one day late with your car payments you are in default of your loan agreement. With that being said, it is very risky to go beyond one month of default on your car note. Even if you are within 1 month, it is very important to communicate with your lender. Do not avoid calls or letters, speak to them about your financial situation and be honest. Don’t tell them that you can make a payment in the near future if you cannot.
Attention: If your car has been repossessed or about to be repossessed in the state of Georgia, time is of the essence to take action. Contact Cherney Law Firm today for a FREE Consultation. We are here to answer your questions. We can get your car back or stop the future repo. Don’t Delay, call us immediately at(770) 485-4141 or fill out our form on the side of this page and Attorney Matthew Cherney will contact you.
Read How Cherney Law Firm has helped Some of our clients with vehicle repossession with actual client cases
Find out how the Power of the Automatic Stay stops your creditors from trying to collect car payments from your immediately
What Happens When Your Car Gets Repossessed?
After your car has been repossessed in Georgia, the lender will notify the debtor that they have 10 days to pay off the loan in full. This includes any associated costs that were added to actually repossess the vehicle. Once that period has ended, the lender will usually sell it through an auction. It is important to note that most of the time, the lender does not receive the full amount that was owed on the vehicle, this could be thousands of dollars less than what you owed on your loan. The difference between what you owed on the loan and what the lender sold it for is called the deficiency amount. Your lender will expect you to pay the deficiency amount. They can legally sue you for it.
Your Credit report will also suffer in more ways than one. The repossession will show up on your credit report for 7 years and if your creditor sues for a deficiency judgment and is successful, that will also be on your credit report.
It is very important to know that there are ways that Cherney Law Firm can help, before or after all of this happens. We can help with car repossessions, judgment and loan deficiencies, but we cannot help if you don’t reach out and ask us to help.
Voluntary Repossession of a Vehicle in Georgia
Surrendering your car with a volunteer repossession in Georgia is an option if you know that you can no longer afford the payments. It can save you a lot of hassle vs having your car repossessed, such as the legal costs that you would ultimately be responsible for and the actual cost that your lending company pays a repo company to get your car. It also can reduce some stress but besides that there are still negative impacts:
Impact on Credit Report
Handing over your keys will still have a negative impact on your credit report because you will have defaulted on your loan contract with your lender. It is slightly better because it will appear on your credit report as a “voluntary surrender” rather than a “repossession” but it will will stay on your credit report for 7 years.
Deficiency
Even though you have surrendered your car, it does not mean that you do not still owe money on it. After your lender has received your vehicle they will sell it at an auction. If the car does not sell for the amount still owed on your loan, the lender can sue you for the difference, this is called the deficiency amount.
Can They Come on my Private Property to Repo my Car?
In Georgia, they can go on to your property to repossess your vehicle as long as they don’t breach the peace. They are not allowed to take your car from inside your garage but if it is sitting on your driveway they have the right to do it.
What Does Breach the Peace mean?
According to the Legal Information Institute, it means the crime of disorderly conduct or creating a public disturbance, usually involving unnecessary or distracting noise. Merely insulting another, or causing annoyance, is not a breach of the peace.
Can I Hide my Car To avoid Repossession?
It is illegal to hide your car with the intent to defraud the bank.
Are You in Danger of Repossession?
Are you facing the loss of your car or other personal items due to falling behind on your payments? Not only is this an embarrassing situation, it is expensive to resolve and could be impossible to manage financially. Falling behind on payments for tools, your car, or other items you have purchased can result in a disastrous situation. Eventually, the company you owe money to will repossess the car or other item if you do not seek the kind of legal help that you deserve. Stop repossession in Georgia today by speaking with an attorney.
If you are facing the threat of repossession in Georgia, call Matthew Cherney, Marietta bankruptcy lawyer, for help. Did you know that all repossession actions will be stopped immediately when you file for bankruptcy? This gives you the time to get this pressing issue sorted out before it is too late.
Can Filing for Bankruptcy in Georgia help Car Repossession?
Filing for bankruptcy protection in the state of Georgia can help you in many ways with car repossession:
The Automatic Stay
When you file for Chapter 7 or Chapter 13 bankruptcy, all creditor action comes to an immediate halt. Any debt collector that contacts you by mail or by phone is in violation of federal laws regarding bankruptcy. There are certain actions during the period of the automatic stay that can be undertaken on your behalf to allow you to keep your vehicle, tools or other item, and I can help.
The first step is to get your situation evaluated at once, and get the help you need to determine the best way to resolve the problem before it turns into a disaster. My firm, Cherney Law Firm LLC, is prepared to assist you to get your repossession problem resolved. Whether filing for bankruptcy is the best solution or an alternative would better work for you, you need to do something effective immediately.
If your car is repossessed and you cannot come up with the full overdue amount, you will never get your vehicle back and the cost can be in the thousands. Should you fail to pay it, not only will you lose your car; you will still owe the lender per the terms of your contract. Effective action must be taken fast to help you avoid further financial problems. There are options for you and it is important that you find out what can be done before it is too late.
Stop Repossession In Georgia: Get the Help You Need
The automatic stay is a temporary solution while the resolution is worked out. The skill of your attorney can make all the difference, as negotiations with the lender must take place. There could be opportunities to allow your overdue payments to be forgiven or at least added to the end of the loan so that you can still keep your possessions.
In many cases, after filing for bankruptcy there is enough money available to keep payments current, as unsecured consumer debt is discharged, leaving more for you to manage your day-to-day expenses. I assist my clients to make arrangements that are to their benefit, including issues involving car payments and managing a repossession action.
In order to continue to go to work, take your children to school, go shopping and other daily activities, most often than not you need a vehicle. When financial problems arise, such as reduced hours of work, a medical emergency, a divorce or loss of employment, it is very possible that a repossession of your vehicle could take place.
How this situation is managed is important to you and your family. I address these issues with your interests as my only concern. Having a skilled Georgia bankruptcy lawyer on your side can make all the difference. Call my firm today if you are facing repossession in Georgia. I will review your situation and determine what can be done to make arrangements that will work for you. Always striving to provide a level of compassion to my clients, I can promise that I will always be on your side should you chose to work with me through this difficult time.
Free Consultation and Payment Plans Accepted
Whatever your situation is, it is important to get the information that you need, A majority of our clients tell us that the only regret that they have is not contacting us sooner. Feel free to ask us any questions, your information is 100% confidential. If you decide to let us help you, we have a payment plan that we can build around any financial situation that you are in.
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Marietta GA 30062 - (770) 485-4141
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FAQs
Repossession Laws in Georgia - Car Repossession Rights in Ga? ›
In Georgia, they can go on to your property to repossess your vehicle as long as they don't breach the peace. They are not allowed to take your car from inside your garage but if it is sitting on your driveway they have the right to do it.
Can you get your car back after repo in Georgia? ›Can I Get My Car Back After a Repossession in Georgia? You can buy your car anytime up until it's sold at auction. The notice that is mailed to you after your car is repossessed will tell you what you have to pay to get your car back.
Can a repo man move another car to get to yours in Georgia? ›Yes, a repossession agent can come onto your property. They cannot “breach the peace” or use force in repossessing the vehicle. An example of breaching the peace is entering a locked garage or cutting a lock to open a gate.
How can I stop a repossession in Georgia? ›Bankruptcy Can Stop Car Repossession in Georgia
By filing for bankruptcy on your behalf, a good Georgia bankruptcy attorney will be able to get an automatic stay that will stop the lender from repossessing your car without permission from the bankruptcy court.
If your car gets repossessed, it's wise to get in touch with your creditor/lessor as soon as possible to discuss options in terms of repayment of a shortfall debt. Creditors will generally prefer to sort out a payment arrangement rather than resorting to enforcing the debt through the courts.
What happens when your car is repossessed in Georgia? ›After your car has been repossessed in Georgia, the lender will notify the debtor that they have 10 days to pay off the loan in full. This includes any associated costs that were added to actually repossess the vehicle. Once that period has ended, the lender will usually sell it through an auction.
Can you go to jail for hiding a car from repossession in Georgia? ›Will I go to Jail If I Hide my Car From the Repo Man? If your lender has received a court order compelling you to turn over the vehicle, then yes, you could go to jail if you disobey the court (often called “contempt of court”).
Can a repo company charge you to get your belongings in Georgia? ›The repossession company can't make you pay a collection fee or a storage fee to get your personal belongings back. They also have to be reasonable about arranging a time for you to get your belongings.
How do you deal with a repo man? ›- Keep your car in your garage. ...
- Maintain good credit. ...
- Negotiate with your lending institution. ...
- Calmly talk with your repo man. ...
- Offer immediate partial payment. ...
- Consider a case review. ...
- Know what the repo men can and can't do. ...
- Demand your car be sold.
Once the vehicle has been repossessed, it will be handed over to an auction agency – where it will be sold to cover the deficit owed to the creditor. If the deficit is not fully covered after the auctioning of your vehicle, you may still have to pay the creditor more.
Can a car be repossessed without a court order? ›
In order to repossess the vehicle an original court order with the stamp of the court needs to be present. If approached by anyone without a court order, it would be best to scrutinize all documentation very closely. Usually a sheriff of the court would have to hand over such a court order.
Should I pay off a repossession? ›Tips. Paying off a repossession can help your credit score since it reduces debt owed, and you may be able to get the item removed from your credit report. However, the significance of impact on your score depends on your credit history and profile and whether you take a settlement.
How does title pawn work in Georgia? ›A title loan is when you give your car title to a pawnbroker as collateral for a loan. If you fail to pay back the loan and interest in time, the pawnbroker can repossess your car immediately. The length of a title pawn loan is 30 days. The loan can be extended in 30-day increments if both you and the pawnbroker agree.
Can you negotiate after repossession? ›Ideally, you should start these negotiations before the repossession process. If you negotiate after repossession, however, you may be able to use any questionable actions by the lender during that process to help bolster your bargaining position.
How can I get my car back from someone I loaned to? ›Establish Evidence for Police Intervention
Since you voluntarily loaned your car out, to begin with, you need to prove the borrower is refusing to return it once you decide to involve law enforcement. The police will intervene in an actual theft but not in an argument with no proof a crime has been committed.
Two or three consecutive missed payments can lead to repossession, which damages your credit score. And some lenders have adopted technology to remotely disable cars after even one missed payment. You have options to handle a missed payment, and your lender will likely work with you to find a solution.
What happens if you don't pay the deficiency balance? ›If you refuse to pay, the debt will most likely be sold to collections. But either the lender or the collector can choose to file a lawsuit against you, which could result in a wage garnishment, a levy against your bank account or a lien against your other property.
How long will a repossession affect my credit? ›A repossession takes seven years to come off your credit report. That seven-year countdown starts from the date of the first missed payment that led to the repossession. When you finance a vehicle, the lender owns it until it is completely paid off.
Is there a statute of limitations on medical bills in Georgia? ›In the state of Georgia, the statute of limitations on contractual agreements is six years. Because of this, most medical bills are void six years following the last payment made by the debtor. The creditor must seek legal recourse for a civil judgment within six years.
Does Titlemax put GPS on cars? ›Titlemax uses GPS tracking devices to monitor a car's location. These devices are typically placed on the car itself, which allows them to track its movements in real-time. Additionally, they also use license plate numbers to track cars.
How do you hide from the repo man? ›
Keep It Locked in Your Garage
One of the best ways to hide your car from repossession is to keep it locked in your garage. The repo man cannot repossess your car if they must break into your garage to get it. By locking it inside your garage, it is safe from repossession for a while.
For hidden cars and even for some vehicles parked at great distances from a subject's typical haunts, a repo agent might use an electronic detector to track down a vehicle for repossession. These days, many lenders require that all new vehicles be equipped with such devices.
How do you become a repo man in Georgia? ›There are no special requirements to start a repo company in Georgia, but you must have a license to operate a vehicle and complete insurance coverage if you want to become involved in this business. It's definitely not a business for the meek!
Can a repo company charge for personal property in California? ›California Repossession Agencies are authorized to charge a reasonable fee for the handling and removal of personal property, in addition to a daily storage fee.
What are the repossession laws in Tennessee? ›Under Tennessee law, lenders are not required to have a court order or notify you when repossessing your vehicle. They have the right to repossess your car at any time if you are behind on payments. However, lenders are not allowed to repossess a vehicle if doing so breaches the peace.
How do I keep my repo man from getting my car? ›- Communicate With Your Lender. As soon as you think you might miss a car payment, reach out to your lender to discuss your options. ...
- Refinance Your Loan. ...
- Reinstate the Loan. ...
- Sell the Car Yourself. ...
- Surrender the Vehicle Voluntarily.
Hiding your car is just a bandage.
This is considered “breaching the peace,” and it's one of the rights a repo man can't break during the repo process. If you lock your vehicle away and the recovery company is unsuccessful in collecting it, the lender can take you to court and attempt to get a replevin.
Repo Remarketing provides skip tracing services to our partners as a stand-alone “locate” service or as an add-on service for accounts being serviced through its repossession management group.
Do I still owe money after repossession? ›If your car or other property is repossessed, you might still owe the lender money on the contract. The amount you owe is called the "deficiency" or "deficiency balance."
Can the sheriff take my car? ›“The summons will be delivered to your address via a sheriff. If you don't defend the summons, then the lender can obtain judgement and a warrant of execution. It's only through this warrant of execution that a sheriff can repossess your car,” Hamman says.
What happens to a cosigner when a car is repossessed? ›
If you cosign on a car loan and the car is repossessed, you have rights and liabilities. Usually, when you cosign a car loan, you agree to be responsible for the debt if the primary debtor doesn't make payments or otherwise defaults on the loan.
What happens when your car is repossessed? ›Once the vehicle has been repossessed, it will be handed over to an auction agency – where it will be sold to cover the deficit owed to the creditor. If the deficit is not fully covered after the auctioning of your vehicle, you may still have to pay the creditor more.
Should I pay off a repossession? ›Tips. Paying off a repossession can help your credit score since it reduces debt owed, and you may be able to get the item removed from your credit report. However, the significance of impact on your score depends on your credit history and profile and whether you take a settlement.
Can a repo company charge you to get your belongings in Georgia? ›The repossession company can't make you pay a collection fee or a storage fee to get your personal belongings back. They also have to be reasonable about arranging a time for you to get your belongings.
What happens if you don't pay the deficiency balance? ›If you refuse to pay, the debt will most likely be sold to collections. But either the lender or the collector can choose to file a lawsuit against you, which could result in a wage garnishment, a levy against your bank account or a lien against your other property.