There might come a time when you are unable to afford auto loan payments, subjecting you to the threat of repossession. When this happens, the thought of hiding your vehicle from authorities to avoid repossession may come to mind, but is it possible to do and are there repercussions?
Intentions are a big factor when speaking on the possible consequences of hiding your car from repossession. Keeping your car out of sight in your garage is okay, for example, but hiding a car with the intention of defrauding the bank can get you into trouble if it’s clearly done for this purpose.
Where Can Your Car Be Repossessed?
In most cases, a car loan creditor can come onto your property and repossess the vehicle as long as they don’t have to break any locks or damage your property in the process. So, a vehicle in a carport or yard would be fair game, but not a car in a locked garage. A creditor may also repossess your vehicle from a place other than your residence.
Places of employment are common sites of repossession, and this can happen even if the car is parked at a business with which you are not affiliated – such as the place of employment of a friend whom you have enlisted to help you hide the car.
What Happens if I Hide My Car From The Repo Man?
If an auto loan is in default and the creditor is unable to locate the car to be repossessed, the creditor can get to the car through a legal process known as replevin. In this scenario, the lender will seek a court order that requires you to turn over the car. If you violate such an order, civil and criminal penalties are usually involved – and you still may have to repay the loan. Replevin is undoubtedly something to be avoided.
If you find yourself behind on car payments but want to avoid repossession or replevin, it might be a good idea to call your lender and discuss your situation with them. They may be willing to cut you a break in the form of a deferral or renegotiation of your balance. Repossession and replevin are expensive for creditors, too, so if you have a discussion with them in good faith about your situation, you may find them to be more sympathetic than you would expect.
Loan payment renegotiation is best handled by an experienced consumer debt attorney who has represented numerous individuals in similar situations. Attorney Heather Benveniste of Benveniste Law Offices understands how overwhelming debt issue can get and is here to lend a helping hand. Through the implementation of proven effective negotiation strategies, Heather can help renegotiate your debt on the most favorable terms; thus allowing you to keep your vehicle and peace of mind. Contact us today at 1-800-497-5358 for a free case evaluation.