Falling behind on car payments is a stressful situation that can lead to repossession. Understanding your rights under Wisconsin law is crucial to protect yourself and potentially avoid losing your vehicle.
Wisconsin Consumer Act (WCA) Protections
If your car loan is subject to the WCA, you have specific rights. Here's a breakdown:
- Notice of Default: Before repossession, your lender must send a written notice informing you of your default and your right to cure.
- Right to Cure: You have 15 days after receiving the notice to bring your account current by making the missed payments plus any applicable fees.
- Multiple Defaults: If you've cured two defaults within the past 12 months, the lender can repossess your vehicle without sending another notice.
Repossession Process
- Repossession without Notice: If your loan doesn't fall under the WCA, your lender may repossess your vehicle without prior notice.
- Repossession Restrictions: Repossession agents cannot enter your home or garage without your permission. They also cannot break into locked areas to access your vehicle. They also cannot repossess your vehicle over your verbal protest.
- Redemption Rights: After repossession, you typically have 15 days to redeem your vehicle by paying the full amount owed, including repossession fees.
Protecting Yourself
- Communicate with Your Lender: If you anticipate difficulty making payments, contact your lender as soon as possible. They may offer options to help you avoid repossession.
- Understand Your Contract: Review your loan agreement to determine if it's subject to the WCA.
- Seek Legal Advice: If you're facing repossession and unsure of your rights, consult with an attorney.
Important Note: This information is a general overview and may not apply to all situations. It's essential to consult with legal counsel for advice tailored to your specific circumstances.
By understanding your rights and taking proactive steps, you can increase your chances of resolving the situation without losing your vehicle.
Would you like to know more about specific situations, such as what to do if your vehicle is wrongfully repossessed or how to protect your belongings inside the vehicle?
Attorney Nathan DeLadurantey offers free consultations to explain your legal rights in Wisconsin. Free consultations can be scheduled online.
