I live in Massachussetts, What are my rights if my car is at risk of bieng repossessed?

Question

I now live in new hampshire.

Answer 1

you have none. the repo company can come whenever to take the car away. should have gotten a car you could afford. sorry

Answer 2

Under consumer law you actually have no rights at this point. You have to keep your payments current to keep your unit.

Call your finance company and see if they will be willing to make payment arrangements with you. If they are that will put the account on hold, buying you time to get the payment current, however KEEP THE ARRANGEMENTS, if not they will take the unit and you will more than likely find that the unit was taken right to an auction. That is the finance company's choice, and even then you will still owe money on the unit. If the unit sells for 10,000.00 and you owe 15,000.00 you will still have to pay the 5,000.00 difference.

Go out to your unit right now and clean it out. If they take it and you have your stuff in it, you will have to pay an "Administration Fee" to redeem your items. This can be as low as 25.00 or as much as 300.00.

Do not try to hide the unit. In my state as well as in other states hiding the unit is a class B or C felony depending on the value of the unit. It is called "Withholding collateral from its rightful owner" I have seen people got to jail for this.

To file bankruptcy is just a short term fix. As soon as the bankruptcy has been discharged they will have the unit the same day or the next day, I deal with that all of the time.

The very best you can do at this point is to make the payments current or to make arrangements and get it put on hold. If they agree to put it on hold, get the hold order sent to you. A lot of times, and I again I see it all of the time, finance companies will put it on hold and then not let the repo company know the account is on hold. The unit gets picked up, and then you still get stuck with the repo fee.

You say you live in Mass. and then New Hampshire. They might also get you for skipping with their unit. Call them tomorrow and see what you can do. If this is not an on going thing, being late with payments that is, they will work with you. They would much rather have the cash than the keys.

Answer 3

Hi.

Read this:
http://www.lawdog.com/states/ma/auto.htm#Consumer%20Credit

Scroll down to 'Consumer Credit Section'.

Good question. You should also check your state codes. The above link is a subset of the Mass. State Codes regarding your situation. You can do this online or go to your city and/or county's law library.

http://www.lawlib.state.ma.us/cmr.html

For example, I can do a google search on 'california state codes' to find the online law library for california state laws. You can search the law library for the words 'repossession' or 'car dealership' and etc.

To perform a full-text Massachussetts law search:
http://www.mass.gov/legis/laws/mgl/mgllink.htm

It appears your rights, at least a description of the procedures a dealer must follow before repossessing your car, is covered by CHAPTER 255B of Mass. State Codes.

But here's my 'truthiness' answer: Must creditors will not repossess the vechicle if you are making some payments AND put a 'for sale' sign in the vehicle. This is ESPECIALLY true if you move to another state. They are less inclined to spend money to repo the car. You can attempt to arrange such a deal with your creditor. But your rights are limited because they are assuming all the risks.

It appears you have 21 days after notice from the creditor before they can move to take your car. Read the "When Buyer May Cure Without Acceleration" section of the original link:
http://www.lawdog.com/states/ma/auto.htm#Consumer%20Credit

During that 21 day period, you can regain your original good status by repaying all money owed - I think. :-)

Best wishes.

-Leon S

p.s. Also, try calling your local law library. The clerk might be able to answer your questions via telephone and/or point you to additional state codes. But I think Chapter 255B is what you need.

Answer 4

You have no rights at all and rightfully so. Why would anyone buy a car they can't afford? I want a BMW 7 Series but I can't afford it so I won't buy it. I find it very interesting that people have no problem overextending themselves to impress their friends or themselves then are shocked to find the car gone in the morning. What do they think the outcome would possibly be other than repossession? I'm not sure of the circumstances are that led to your repossession but if if it's due to the reason I gave, it sounds like a repo is just what the doctor ordered to get you back to reality.

Answer 5

1 Pay what you owe.
2 Refinance.
3 Turn in the car for the balance you owe (voluntary reposession).
4 File bankruptcy.

If the car is repo'd, they have to send you a "right of redemption" letter with the amount you have to pay.

Take your own items out of the vehicle now.

Answer 6

You have the same rights as all 50 States. The right to make your payments on time.

Answer 7

You don't have any rights when you don't pay your bills.

Pay your bills and pay them on time so that you can earn some rights.'

Answer 8

None-pay up!

Answer 9

Get thee up and pay thou that which thou oweth