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  1. Apr 20, 2021 · Indiana Code 26-2-10 discusses the terms under which motor vehicles and watercraft can be repossessed. The creditor does not necessarily have to go to court to repossess your property if you have fallen behind on payments. A creditor typically uses a repossession company to retrieve property.

    • Indiana
    • (317) 917-8680
  2. Jul 5, 2024 · This blog will outline key information about car repossession in Indiana, how you can protect yourself, and strategies for finding the best local car repossession lawyer to assist you in navigating this process.

  3. Dec 30, 2022 · 4 Places Customers Can Buy Repossessed Vehicles. When lenders have to repossess vehicles, their priority is to sell them and recoup as much of the loan as possible. They usually offer recovered vehicles at or below fair market value, making defaulted vehicles quite a bargain for car buyers.

    • 22 Artist Dr, Nashville, 47448, IN
    • (812) 988-8300
  4. The lienholder of a repossessed vehicle may apply for a certificate of title for the last vehicle owner according to BMV record. If the owner is an Indiana resident and did not apply for a certificate of title, then the lienholder must present a Court Order.

  5. Vehicle repossession in Indiana is governed by contractual provisions contained in the original car lease or purchase contract. If you get behind on your payments, it is important to know what might happen if the vehicle's creditor decides to repossess the vehicle.

  6. Mar 28, 2018 · If you’ve bought a car on finance and missed payments, or if you default on your loan, you may have your car repossessed. You can have your car repossessed by car loan companies, or other loan companies too, because your car may be seized to sell the car and pay back the difference on other loans.

  7. Oct 6, 2015 · However, another way to hold onto your vehicle is by filing for Chapter 13 bankruptcy. When you file for Chapter 13 a creditor can no longer try to collect debt and a lender cannot repossess your vehicle. Rather, the amount you owe is reamortized at 5% over the life of your Chapter 13 plan.

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