How Do Repossessions Work?

Do you need help recovering your overdue payments or equipment?

Are you having trouble making ends meet?

Did you know that in most states, as a creditor, you can seize a car if a customer defaults on their loan or lease?

You may be asking yourself, “How do repossessions work?”
1.    Lenders can seize cars without notice if a debtor is in default.
2.    You can keep the car or sell it to satisfy your debtor’s default payments on your loan agreement.
3.    If applicable, your debtor is responsible for the deficiency balance of their loan until the loan is completely paid off.
4.    Your debtor can try buying back the car or the loan may be reinstated.


We don’t recommend D.I.Y. repossessions unless you are absolutely sure of your rights and responsibilities. Professional debt collectors understand how to comply with the law and stay safe. If you have questions about how repossessions work, we invite you to speak with an experienced debt collector in Michigan. We’re happy to discuss your options!

Call An Experienced Debt Collector in Michigan Today!

If you’re a business owner, you may decide that having a debt collection law firm work on your unpaid invoices is your best choice. That’s an area we specialize in, and we’re happy to discuss your options.

The law firm of Muller, Muller, Richmond, Harms & Myers, P.C., has successfully represented and handled collection matters for more than 55 years. Our attorneys know how to get results for our clients and they’re dedicated to getting a satisfactory outcome. Contact our debt collector in Michigan today at (248) 645-2440 for a free no obligation consultation.