I , as a private owner of a car held the remander the paper ,contract onthe car She did not provide pproof of insursance as required plus used the car as collateral to secure a loan.I had the car repoed. She called the police they spoke with a judge whosaid that it was legal to repo the car the girl was also late on her payment
Country relating to Question: United StatesState (if USA): Georgia
Hello and welcome.
I am sorry to hear of your difficult situation. My goal is to provide you with excellent service. First, I have some questions for you so I can determine what information to provide you.
I am listed as the lien holder on the title and on the contract
I see. Thank you for the additional information, Bonnie. What is your question for me please? Is there litigation currently pending?
Do I need to send a ten day notice ,I was advised that I need to sue her for fraud I really would like to be done with her
I see. Thank you, Bonnie.Yes, lenders who take repossession actions are typically required by Georgia Code Section 11-9-504 to send a "10-day letter" to the borrower, notifying him of his rights to reclaim and redeem the vehicle, so the borrower has the opportunity to cure the default.Georgia Code Section 11-9-505 requires the lender who repossessed the vehicle to notify the borrower of the financial indebtedness that the borrower must pay off to reclaim the vehicle. This amount can include the debt amount, along with various associated costs and fees.Here is a link that provides additional information:http://www.ehow.com/list_6331428_georgia-car-repossession-laws.htmlThere is normally no need to claim fraud prior to taking possession of the vehicle, but the borrower should be in default on the contract and the contract should indicate that the lender retains the right to repossess the vehicle, as appears is the case here.
I hope this helps clarify the situation for you.
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