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I am the lien holder named on car title what do i have to do…

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i am the lien holder...
i am the lien holder named on car title what do i have to do to be to repossess it?
Submitted: 1 month ago.Category: Legal
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Answered in 2 hours by:
3/21/2018
Lawyer: KLAW, Lawyer replied 1 month ago
KLAW
KLAW, Lawyer
Category: Legal
Satisfied Customers: 2,127
Experience: I have over 20 years of experience in commercial real estate law, finance, consumer credit, landlord tenant, and business law.
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Good morning. I am a legal expert attorney who will assist you today.What state are you located?
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Customer reply replied 1 month ago
Missouri
Lawyer: KLAW, Lawyer replied 1 month ago
Under Missouri law, the you as the lender must send the borrower a "Notice of Default and Right to Cure" before attempting to repossess the motor vehicle, but the timing is quite specific. It must wait until the account is at least 10 days past due before sending the notice. When it does send the notice, it must give the borrower at least 20 days to "cure the default," or pay the amount owed.As a self-help repossession state -- meaning no court action is required -- Missouri permits you, the lender to take back the vehicle after the end of the second 20-day Notice to Cure. The state doesn't license repossession agents, and allows repossession as long as doesn't involve a "breach of the peace."Once the car is repossessed, the borrower must receive a "notice to sell property" from you, the lender, which also indicates that the latter intends to file for a repossessed title. The notice advises the borrower that he has ten days to redeem the collateral -- pay the entire amount of the outstanding car loan, plus other applicable fees. The notice includes the proposed date, time and place of a public auction. If you intend to sell the vehicle privately, the notice must include the date after which the vehicle will be offered for sale.
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Lawyer: KLAW, Lawyer replied 1 month ago
I hope this clarifies and helps. Please don’t forget to rate the question with stars. We as attorneys are not employees of Just Answer and are not paid unless you rate the question with stars
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Customer reply replied 1 month ago
I'm not interested in reselling the car. I plan on keeping it.
Lawyer: KLAW, Lawyer replied 1 month ago

I will have another expert help you

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Lawyer: Law Educator, Esq., Attorney replied 1 month ago
Law Educator, Esq.
Category: Legal
Satisfied Customers: 123,241
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

I am a DIFFERENT CONTRIBUTOR, as your previous contributor left.

In MO, if you as lienholder want to repossess the car, you may do so. In order to keep the car, you must still give notice to the former owner and then you can do what you want with the car as long as you have followed the notice process to the owner that you intend to foreclose on the vehicle. No court action is legally required, but you do need a local attorney to file the repossession title.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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