Automobile repossess - Illinois More options ?
Automobile repossess - Illinois More options ?
I sold a car and the person I sold it to has already missed the first
payment. He paid me $2000 down and agreed to pay $100 a month for 5
months starting in August.
At what point can I repossess the car if he continues to miss payments.
Am I under any oblication to warn him that I will reposess the car?
I know where he lives and works and I still have a set of keys to the
car so it would be very easy to get it.
- The number of payments he is allowed to miss is described on the written
security agreement you obtained from him when you sold him the car on time.
If there is no written agreement, you have no right to repossess the car,
only to sue him for c