Legal Question in Consumer Law in Michigan
If a car is repossessed in the state of Michigan, is the bank required to hold the car for a certain amount of time before it is resold?
Asked on 12/08/15, 6:05 am
1 Answer from Attorneys
Andrew Campbell
Andrew L Attorney at Law
The law is not crystal clear on this issue. Typically at least 10 days is given to allow the debtor to pay off the vehicle in full (the deficiency) but for consumer contracts, where the car was primarily used for personal, family or household purposes but not commercial purposes it is 15 days. There is no clear cut rule though other than 10 days.
Answered on 12/08/15, 7:43 am
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