Legal Question in Credit and Debt Law in Connecticut

Re: collecting on a loan

Got a key to the car? If so, you go to the guy's house, get into the car, and drive it to a garage you've rented,

Just make certain you've got a copy of the lien of record with you at all times.

Once you've got the car safely tucked away, call the guy and tell him you've repossessed the car, and he has 10 days to come up with the money or you'll sell it and apply the net proceeds of the sale to the debt.

The guy may tell the police the car's been stolen. He may give them your name as the thief. If the police come to you, DO NOT LIE!!! You tell them the truth, that you repossessed the car because he hasn't paid the loan. You show them the loan papers, you show them the lien papers. You give them photocopies of the papers (of course you've made LOTS of copies of the papers).

It's natural to be nervous when talking to police, but try to keep yourself under control, remembering YOU ARE IN THE RIGHT!

What? You don't have a key to the car? Well, you'll just have to take along a "friend" who doesn't let lack of a key bother him when he wants to open a car door and start the engine. Naturally, this "friend" will be someone with finess who will not "disturb the peace" by breaking a window or popping out a lock.

I know this is probably not the advice you expected of an attorney, but remember you stand in the same shoes as GMAC, FMCC, or any auto loan outfit, and have the same rights. If they can repossess, you can repossess.

And for heaven's sake, don't threaten him in advance with repossession -- the car will disappear and you'll never see it again.