Car repossession manual Lawyer Manual

This is an attorney desk reference manual from Illinois Legal Aid Online. It covers many aspects of lawful repossession when the creditor Someone who is owed money has a valid security interest in the consumer's vehicle. This requires that the security interest is written in a retail installment contract or a financing agreement and the case of vehicles, noted on the certificate of title or approved form provided by the Secretary of State.

For repossession to occur, the lien A claim against property that may be used to repay a debt holder must have a valid security interest in the collateral Property a person promises to give up if they do not repay a loan and the case of vehicles, clear title. A creditor must register notice of security interest with the Secretary of State for vehicle liens.