Affidavit Of Repossession Form Georgia
Description
How to fill out Verified Complaint For Replevin Or Repossession?
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FAQ
Once your auto vehicle is taken, the lender has to mail you a notice within 10 days explaining that your automobile has been repossessed. The notice will explain how you have to pay off the loan and repo fees if you want your car back. It will also tell you how long you have to get your car back.
Supporting Document(s) - An Affidavit of Repossession (Form T-16) must be completed and signed by the repossessor. An affidavit of repossession from another state is acceptable if it contains all of the required information and is signed by the repossessor with his or her signature notarized.
If you have paid less than 60 percent of the car loan when the creditor takes back the car, the creditor is allowed to keep the car to pay off the debt. However, if you believe the car is worth more than you owe, you have 21 days to object in writing. If you object, the creditor must resell the vehicle.
Purpose of this Affidavit: This affidavit is to be used by a repossessor to certify that a motor vehicle has been repossessed because of the vehicle owner(s)' failure to meet his/her obligation for settlement of a lien or security interest on said vehicle.
Repossessed Vehicle Title If the repossessor is not recorded on the title as the lienholder or security interest holder, the following must be provided: ... Completed and signed Form T-16 Affidavit of Repossession. $18.00 title fee.