North Carolina Complaint for Wrongful Repossession of Automobile and Impairment of Credit

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Multi-State
Control #:
US-01419BG
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Word; 
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Description

The tort of conversion occurs when personal property is taken by a defendant and kept from its true owner without permission of the owner. Conversion is the civil side of the crime of theft. In an action for conversion, the taking of the property may be lawful, but the retaining of the property is unlawful. To succeed in such an action, the plaintiff must prove that he or she demanded the property returned and the defendant refused to do so.


This form is a generic complaint and adopts the "notice pleadings" format of the Federal Rules of Civil Procedure, which have been adopted by most states in one form or another. This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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  • Preview Complaint for Wrongful Repossession of Automobile and Impairment of Credit
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FAQ

Repossession Laws in Florida Breach of Peace ? Repossession agents are prohibited from causing a breach of the peace. They cannot trespass, threaten violence, or physically restrain you. Inventory ? Any personal belongings left in the repossessed vehicle must be inventoried and made available for you to retrieve.

If your car is repossessed: You are entitled to any property in the car that was not part of original sale. For example, tools, clothes, stereo equipment, etc. Contact the seller immediately after repossession to recover your property. Make sure that there is a default.

After you are 10 days late on your payment, the lender must send a Notice of a Right to Cure in the mail (unless your lender is a credit union). This notice should give you 20 days to repay what you owe them before they can take the car.

The statute of limitations for car repossessions in Florida is five years. This means that the car lender may not attempt to collect from you or file a suit against you after five years per the last date of activity on the car loan. The statute of limitations applies to all consumer debts with written agreements.

If you miss a payment or default on your contract in any way, such as letting your insurance coverage lapse, your creditor has the right to repossess your car. A voluntary repossession occurs when you return the financed vehicle in an attempt to relinquish your responsibility.

In some states, such as Florida, your lender may agree to reinstate your loan. To do this, you'll bring the loan up to date by paying the overdue amount plus any repo costs incurred. You'll need to act and contact your lender immediately, as these transactions have a tight timeline.

A repossession stays on your credit report for seven years, starting from the first missed debt payment that led to the repossession. In the credit world, a repo is considered a derogatory mark. After a repo, it's not unusual to see a person's credit score take a substantial drop.

A repossession can stay on credit reports for up to seven years. ing to Experian®, the seven-year countdown starts on the date of the first missed payment that triggered the repossession. But Experian says that once that time period ends, they'll automatically remove the account from your credit report.

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North Carolina Complaint for Wrongful Repossession of Automobile and Impairment of Credit