Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709

Should you hide your vehicle from repossession?

Perhaps it is becoming too common an event. You have a large bill coming due this week, such as your mortgage or car payment, and you know you will not have enough money in the bank to cover it. Maybe you are to the point where you are alternating months, paying one debt this month and putting of another for next month. This kind of juggling is evidence of a serious financial crisis, and if you have missed your car payment, matters could get much worse very quickly.

Car loans use your vehicle as collateral. This means if you default on the loan, in some cases missing only one payment, the lender has the right to repossess the vehicle. Because of this, you may think your best course of action is to hide your vehicle from repossessors in hopes that you will be able to catch up on the payments. However, hiding your vehicle may be a bad idea.

How far can repossession go?

Hiding your vehicle from repossession professionals is not easy. These men and women do this for a living, and they know the tricks car owners in default try in order to avoid repossession. In fact, you may think you know the limits to which repossession agents can go, but are you aware that, depending on state laws, an agent may be allowed do any of the following?

  • Watch your home to learn your schedule
  • Learn where you have family or friends who may store the vehicle for you
  • Repossess your vehicle while you are at work, in the grocery store or other public places where you may park
  • Take your vehicle from your driveway or your neighbor's driveway
  • Take your vehicle from your garage, your yard or other private property if they can do so without causing damage or making threats
  • Charge your creditor extra for the excessive time it takes to locate your vehicle, a cost your creditor will pass on to you

Perhaps the most serious potential consequence of hiding your vehicle from repossession is that your creditor may conclude you are attempting to defraud them since it is their lawful right to repossess property you haven't paid for. This could result in criminal or civil penalties that could complicate your already stressful situation.

The safest move to avoid the repossession of your vehicle is to make your payments on time. If this is not possible, communicating with your lender may provide you with a grace period to get back on your feet. Your lender may offer options that will be less painful and embarrassing that having a flatbed carry your car away in front of your neighbors or co-workers. You can also discuss your alternatives for getting out from under your debt by contacting an experienced Wisconsin attorney.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6333 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.