Repossession In Florida, How Do I Get My Car Back?

MCPCEO · #1 04-07-2008, 07:49 AM

Hello I live in Florida, Is there any way to get back a repossessed car? We got behind on payments 3 months to be exact, the night before we were going to pay up our loan the car was towed out of our driveway. The towtruck operator told us that all we would need to do is pay what we owe, but when we called our finance company they told us that they won't give us back the car until we pay the car off completely. Needless to say we don't have $21,000 to pay off a car, but we did have the cash for the 3 months we were behind. Now they have the car, and are refusing to allow us to catch up and get our car back. We have left tons of messages for the supervisor to call us back to to avail. My question is, are there any finance companies that will take over that loan so we can continue to pay and drive, or are we out of luck now that the car has been officially repossessed? What steps should I take to remedy this situation? I want my car back!!

thisreallysux · #2 04-07-2008, 07:55 AM

depend on the laws of florida. look up the uniform commerical code in FL. Generally, however, a debtor has the right to redeem the car back by paying off the loan and repossession costs. good luck!

aaron · #3 04-07-2008, 09:46 AM

Well, yeah. It depends on state law. But it's reasonable to infer that he already knew that, and was asking what state law provides.

Here's the general statute governing redemption of property; I don't rule out the possibility that other laws may also apply.

Quoting Florida Statutes, Sec. 679.623 - Right to redeem collateral.

(1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

(2) To redeem collateral, a person shall tender:

(a) Fulfillment of all obligations secured by the collateral; and

(b) The reasonable expenses and attorney's fees described in s. 679.615(1)(a).

(3) A redemption may occur at any time before a secured party:

(a) Has collected collateral under s. 679.607;

(b) Has disposed of collateral or entered into a contract for its disposition under s. 679.610; or

(c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 679.622.