In Alabama, something purchased on credit or something offered as collateral can be repossessed, but there are several laws outlining how this can be done, states AlabamaLegalHelp. These laws revolve around a signed agreement between a purchaser and a creditor and provide limits and obligations for both.Know More
A creditor cannot repossess a house or land, nor can it enter a house without permission to repossess items inside, explains AlabamaLegalHelp. Repossessions usually involve automobiles, and these repossessions can only be performed without force, threats or trickery. A creditor does not need to request action from a court or provide prior notification of a repossession. Once an automobile is repossessed, a creditor must notify the debtor of his right to get the car back, but this often requires payment of the full balance owed. Filing bankruptcy does not give the debtor the right to get the automobile back.
After a car is repossessed in Alabama, the creditor has the right to file suit for any balance still owed, says Nolo. The creditor may sell the car at auction and if the amount received is less than the amount owed on the loan plus any costs incurred, the debtor is still responsible for the difference.Learn more about Law
The state of Florida has extensive rules covering the consumption of alcohol; driving under the influence; the sale and purchase of alcohol; and other various regulations on the topic, according to Renee Chapple for About.com. The drinking age in the state of Florida is the same as the national drinking age for all states, which is 21.Full Answer >
A statute called the Texas Business and Commerce Code Section 9.609 says a creditor can use self-help repossession but can only seize collateral if it can be done without a breach of the peace, according to Weber Law Firm, P.C. Getting a court order or filing a lawsuit are other options for creditors.Full Answer >
North Carolina repossession laws state that if someone is behind on payments or has failed to maintain any required insurance, the lien holder of the property has the right to repossess the property. However, they do not have the right to breach the peace during recovery.Full Answer >
Michigan's laws for repossession are contained in the Uniform Commercial Code, which governs certain commercial transactions, according to the official State of Michigan website. Repossession of a vehicle in default of a security agreement is allowed without committing a breach of the peace, notes the American Recovery Association.Full Answer >