Repossession Rights for Bank against a Debtor

Answered by:

Question:

Does a bank have any repossession rights against a debtor if the debtor has never provided the titles to the vehicle and now the loan is in default? If no, which I assume, what options are available to claim our collateral?

Answer:

You need to consult legal counsel, but if you never perfected your lien on the vehicles, I doubt you have much of a right to repossess them.

First published on BankersOnline.com 9/5/11