07/07/2018
TIPS OF THE WEEK
WRONGFUL REPOSSESSION -- WHAT ARE YOUR RIGHTS IN NEVADA?
IF YOU WERE LESS THEN 30 DAYS LATE ON YOUR REGULAR MONTHLY PAYMENT, AND YOUR CAR WAS REPOED, YOU NEED TO ACT FAST. Again, this is NV specific, laws in other states may be different. Also, the underlying vehicle purchase must have been from a NV dealership
FIRST, if your car is LEGALLY repossessed, meaning in most circumstances you were MORE THAN 30 days late on your regular monthly payment, in Nevada, if the dealer or the bank does not send you a letter, (known as an intent of disposition notice), within 60 days from the date in which they LAWFULLY repoed your car, they CAN NOT acquire any deficiency judgment against you.
A deficiency judgment generally occurs when the car is sold at an auction, and is sold for much less than what is owed. The amount that is left owing on the contract is the deficiency. So, if they can't show they sent you the notice within 60 days of the date of a LAWFUL repo, then you are not on the hook for any excess or deficiency. Again, this is NV specific, laws in other states may be different. Also, the underlying vehicle purchase must have been from a NV dealership
SECOND, if your car is WRONGFULLY (ILLEGALLY) REPOED, meaning in most circumstances you were less than 30 days late on your regular monthly payment, then the dealer or the bank who WRONGFULLY REPOED your car may have engaged in a deceptive trade practice in NV.
Nevada law now gives the consumer very powerful rights when their car is wrongfully repoed, including having your attorney's fees and costs paid for by the other side, including getting the wrongful repo OFF YOUR CREDIT REPORT. There are no out of pocket attorney's fees paid by you and there is NO CHARGE for consultations.
THIRD, if your car is ELECTRONICALLY DISABLED through an ignition kill device BEFORE you are 30 days late, that is also considered a WRONGFUL REPOSSESSION in NV and you have the same rights as if they actually towed your car away. Again, this is NV specific, laws in other states may be different.
FOURTH, there are other significant statutory damages that the dealer may have to pay as well. Those statutory damages in many cases are in the THOUSANDS OF DOLLARS. There are very harsh penalties to any dealer or bank who wrongfully repoes a car in NV.
PROTECTING THE COMMUNITY AND ENFORCING THE RULES, that is what we do. If you believe you have been a victim of wrongful Repo or auto fraud, we are here to help.
www.americasautofraudattorney.com www.nevadasautofraudattorney.com
Since 1992, attorney George O. West has represented consumers victimized by deceptive car dealership practices. Call our Las Vegas law firm at 702-664-1168 for a consultation.
