Repo Car Notices

While most states do not require that notice be given to a person prior to a repossession, consumers actually do have some protections in New Jersey and Pennsylvania. If a repossession is not handled according to the laws of these states, the consumer could potentially be entitled to compensation for the mishandling.

In these two states (New Jersey and Pennsylvania) UCC Article 9 provides that lenders may only sell a repossessed vehicle once a proper pre-sale notification has been sent to the borrower. This presale notice must include the following information:

  • The amount of the deficiency
  • The interest on the loan
  • All costs associated with the repossession

In addition to a presale notification, UCC Article 9 mandates that a post-sale notification must also be provided to consumers. The post-sale notification must include:

  • The total amount of the deficiency
  • The interest accrued
  • All costs associated with the repossession

If you were not provided with pre-sale and post-sale notifications, it could be extremely beneficial for you to speak to an attorney who is experienced in New Jersey and Pennsylvania repossessions. If it turns out your lender did not properly follow the law, you could be entitled to statutory damages including the entire interest amount of the loan as well as 10 percent of the principal loan amount.

To learn more about your legal options or to schedule a free consultation call the Philadelphia class action lawyers at Golomb Legal today at 1-800-355-3300 or 1-215-985-9177 or fill out our confidential Contact Form.

The national class action lawyers at Golomb Legal have successfully represented individuals in Philadelphia, Pennsylvania, New Jersey, and throughout the United States.