Where can you find the repossession laws for the state of Georgia?

Answer 1

Georgia TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Georgia Motor Vehicle Division, 270 Washington Street, Atlanta, Georgia 30334. Tel: (404)362-6500. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. PLATES: Remain with the vehicle. If the DMV cant answer your questions, clik the link below and search on repossession legis.state.ga Plates no longer remain with the vehicle in Georgia, they are issued to the person now, and are transferrable.

Answer 2

Georgia's Repossession Laws

• TITLE STATE: Yes
• SECURITY INTERESTS: Shown on title held by lien holder.
• LICENSE REGISTRATION: Georgia Motor Vehicle Division, 270 Washington Street, Atlanta, Georgia 30334. Tel: (404)362-6500.
• RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace.
• Plates no longer remain with the vehicle in Georgia, they are issued to the person now and are transferrable.

Repossession Actions

Your car can be seized by the repo company as soon as you are notified that you are in default of your loan.

If your car is worth say $5,000 - and you OWE $10,000 on it - after they repossess it - they will sell it (usually at auction) and if they get $3,000 - they will sue you for the balance of $7,000 - and they WILL garnish wages (50% of your paycheck after taxes) until the car is paid for! If the car is not running - again they can have it repaired and sue you for the repair bill! And DO NOT THINK that the repo guys and auction houses do not work together - of course they do! If you have a $35,000 car and the repo guy wants your car - (after they repo it) - they CAN auction it for $1500 to the repo guy - and YOU pay the $33,500 balance - and Mr. Repo is driving a $35,000 car for $1500!

By law, the company that finances the loancannot be the company that handles the repossession. But they are often companies that work together.

Also ANY improvements ALWAYS stay with the car. If you have a $2,000 stereo system - it stays with the car. Any personal belongings of yours inside the car must be returned to you by the repo company within 3 days. But without proff this is hard to enforce.

The repo company will usually take your car at night - and most are very good - they can hook it to a tow truck and be gone - usually in under 30 seconds!! They will go around the corner - then secure the car to the tow truck!! And if the car falls off the tow truck - YOU pay the damages!

A repo is on your credit history for 7 years - although it is common for them to disappear after 5 years!

Most states are 90 days late before repo-ing a car - but under the Bailout, GM's federal agreement overruled your state laws.

Answer 3

Georgia

TITLE STATE: Yes SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Georgia Motor Vehicle Division, 270 Washington Street, Atlanta, Georgia 30334. Tel: (404)362-6500. RECOVERY REQUIREMENT: As per UCC, repossession allowed without committing a breach of the peace. DOCUMENTS REQUIRED FOR PLATES: Remain with the vehicle.

http://www.legis.state.ga.us/legis/GaCode/index.htm

Answer 4

First don't get caught. Wear bullet proof vest and have back up car with driver close by. Second after taking the car remove every expensive part that unbolts quickly wheels doors seats hood trunk lids stereo battery. Now leave the car for delinqunet owner to recover quickly. Guarantee he will not want it anymore. Have him relaease all intrest to you for remaining balance owed, Sue him for paper loss put it all back together and laugh your rear end off he deserved it

Answer 5

Florida allow repossession by UCC regulations, a right to cure notice or replevin order is not required and the vehicle may be recovered by a licensed agent as long as it is done without a breach of peace. The county recorder must be notified of the repossession action and the plates remain with the borrower.

Answer 6

See the very closely related questions linked to the right.