This form is a Verfied Complaint for Replevin. The plaintiff has filed this action against defendant in order to replevy certain property in the defendant's possession.
Repossession Form Statement With Multiple Conditions In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-000265
Format:
Word;
Rich Text
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FAQ
Obtaining a repossession title involves completing specific paperwork to transfer ownership from the previous owner to the lienholder. This paperwork often includes an application for a repossession title, a bill of sale, and a certificate of repossession.
Repossession happens when a lender takes back a car because the borrower has fallen behind on payments. Repo agents use personal details, social media, and tools like GPS trackers and license plate scanners to find vehicles.
Although court judgments no longer appear on credit reports or factor into credit scores, they're still part of the public record. If a lender looks up your public records, this could make it harder to qualify for future loans.
You can also use websites like Carfax, Auto Trader, Buy It Now, eBay and CarsDirect. All these websites provide information about repossessed cars.
Dear Borrower Name: You are hereby notified that your description of motor vehicle, year, make, model and VIN #, was lawfully repossessed on Date because you defaulted on your loan with Credit Union Name. The vehicle is being held at location address of vehicle. be sold at public sale.
Even if it was a voluntary repossession, they can still sue. The thing is that NC law has a three year statute of limitations. This means you should consider making a motion to the court to dismiss on those grounds (NCGS 1-52(1).)
In California, a consumer's vehicle can be taken from them if they miss payments on their loan or if they violate any terms of their agreement. This process is known as repossession and the creditor has the right to repossess the consumer's vehicle if it holds a valid security interest in it.
All repossessions will negatively affect your credit score and can remain on your credit report for up to seven years.
If the repo company can't repossess the car without breaching the peace, then the lender can go to court and go through the replevin process. The lender is basically taking you to court to make you hand over the car. If you lose the court case, then you have to return the car by the scheduled date.