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Know the Law. The process of repossession is intrusive and frustrating and can be intimidating. The laws are murky and vary from state to state, but a court order is almost never needed for a ...
The most common forms of default resulting in repossession are failing to make required payments and failing to maintain adequate insurance coverage. Many U.S. states have enacted additional laws that apply specifically to the repossession of purchased and leased automobiles, and which are intended to afford additional consumer protections. [3]
Because the right of redemption is an equitable right, foreclosure is an action in equity. To keep the right of redemption, the debtor may be able to petition the court for an injunction. If repossession is imminent, the debtor must seek a temporary restraining order. However, the debtor may have to post a bond in the amount of the debt.
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The order directs repossession agents to recover the vehicle. Baldwin and Wingard said documents signed by the vehicle’s owner during the financing process allow banks this ability.
The word "replevin" is of Anglo-Norman origin and is the noun form of the verb "replevy". This comes from the Old French replevir, derived from plevir ("to pledge"), which is derived from the Latin replegiare ("to redeem a thing taken by another").