What Happens If The Bank Takes My Car?
If you fall behind on your car payments and the bank decides to take your car, it can be a stressful experience. Knowing what to expect if a lender decides to repossess your vehicle can help you prepare for the worst.
First, the bank will contact you with reminders of past due payments and the amount needed to bring your loan current. The lender may also threaten repossession of your vehicle as a last resort if payments are not made. If they do decide to take possession of your car, they must follow laws that protect borrowers from unfair practices. A representative from the bank will likely contact you directly or send someone else in order to remove the vehicle from your property. They will then sell it at an auction in order to cover their costs and recoup any losses associated with the loan.
The Law Offices of Omar Zambrano has already helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706