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Reconsider hiding your vehicle when facing repossession

On Behalf of | Oct 3, 2018 | Uncategorized

Owning a new car is a goal that many people strive toward. You may have thought you reached this milestone only to find yourself struggling to make your car loan payments. You may have suffered a medical emergency, job loss or some other financial blow, and sooner than you might have expected, you faced the risk of having your vehicle repossessed.

At first, you might dwell on how you ended up in this tough financial spot, but you also know that if you do not want to lose your vehicle, you need to take action. Because you want to protect what you see as your property, you may consider hiding your vehicle from a repossession agent.

Is hiding your vehicle a good option?

You may initially think of hiding your vehicle as a credible option, but it may prove important for you to know that intentionally hiding it in hopes of avoiding repossession is against the law. Authorities could view this action as a form of fraud by trying to cheat your lenders out of money owed to them.

In addition to this action having criminal connotations in general, your specific jurisdiction may also have stipulations on what steps you could take to avoid having your vehicle repossessed. Therefore, it may work in your best interests to understand the laws of your area.

Where can an agent repossess your vehicle?

You may think that you can keep your vehicle safe by simply not driving it or parking it in a less visible area. In your mind, you may not truly be hiding your vehicle if you just keep it on your private property and out of view.

However, you may also need to know that a repossession agent may come onto your property in order to obtain a vehicle as long as that agent does not breach the peace. In this case, that stipulation means that the agent cannot cause physical damage or use physical force to repossess the vehicle. So, your creditors could still repossess your vehicle even if it is behind your house.

Public property is also fair game when it comes to repossession. If you take your vehicle out to the grocery store, a repossession agent could take the vehicle while it is parked in the parking lot of the store.

What is a more viable option?

Fortunately, you do not have to resort to illegal or dubious means to stop the repossession of your vehicle. Instead, you may want to consider exploring your legal options like bankruptcy. Filing for bankruptcy may halt repossession efforts, and speaking with an attorney may allow you to gain more information on this option and how it could help.