[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-280701-105":53,"doc-detail-280701-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","repossession-notice-letter-for-private-sale-3-17-21","Repossession Notice Letter for Private Sale - 3 - 17 - 21","","Repossession Notice Letter for Private Sale template provides a formal notification from a credit union to a borrower after lawful vehicle repossession due to a loan default. It explains the holding location, the redemption or reinstatement options within fifteen days, and the consequences if the borrower does not pay. 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Redemption or reinstatement options are provided in the letter and depend on paying the applicable full amount plus allowed expenses.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"How is the amount due calculated and where can it be itemized?",{"text":114,"@type":110},"The template includes fields to show unpaid balance, interest through a date, late fees, repossession fee, and totals, with placeholders for additional costs. It also offers instructions for requesting a written explanation of how the amount was figured.",{"name":116,"@type":107,"acceptedAnswer":117},"What happens if the sale proceeds and the sale price differs from the amount owed?",{"text":118,"@type":110},"After paying costs, sale proceeds reduce the borrower’s obligation. If proceeds are less than the amount owed, the borrower remains responsible for the deficiency and may face action; if more, the borrower receives the extra money unless it must be paid to someone else.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},280701,1790006575,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":9},2336475104362,"https://ap-avatar.wpscdn.com/avatar/22000c4c46a41b752dd?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786595829695023868","Repossession Notice Letter for Private Sale, which could include a Dealer Only Private Auction-Sent by Registered or Certified Mail to the last known address of the Borrower  \n[Credit Union Name][Street Address][City, ST ZIP Code][Date]  \n[Borrower Name][Street Address][City, ST ZIP Code]  \nSubject: [Loan/Note \\#]  \nDear [Borrower Name]:  \nYou are hereby notified that your [description of motor vehicle, year, make, model and VIN \\#], was lawfully repossessed on [Date] because you defaulted on your loan with [Credit Union Name] . The vehicle is being held at [location address of vehicle] .  \nIf you do not redeem the vehicle [Optional-or reinstate the contract] within fifteen (15) days from the date of this letter by paying the amount set forth below with cash, the vehicle will be [sold at a private sale sometime after [Date]] or [delivered to [Name, Address and phone number of Auto Auction], a dealer only private auction to be sold beginning on [Date]] .  \nOption 1 Example (ONLY REDEEM)  \nYou can get the property back at any time before we sell it by paying us the full amount you owe (not just the past due payments), including our expenses.  \nShow Itemization of amount to redeem-payoff loan + expenses  \nUnpaid Balance of Loan $ [ ]  \nInterest to [date] $[ ]  \nLate Payment Fee(s) $[ ]  \nRepossession Fee $[ ]  \nTotal Amount Due $ [ ](plus any costs incurred in retaking, storing and  \nrepairing the vehicle) [note that these fees must be actual and commercially reasonable]  \nor  \nOption 2 Example (REDEEM OR REINSTATE)  \nYou can get the property back at any time before we sell it by reinstating the contract or paying us the full amount you owe, including our expenses. To reinstate the contract, you may pay the following amount: [Itemization of amount to reinstate] . To pay off the contract in full, you must pay us the following amount: [Itemization of amount to pay off the contract in full] .  \nIf you want us to explain to you in writing how we have figured the amount that you owe us, you may call us at [telephone number] or write us at [address] and request a written explanation.[Optional-We will charge you $[ ] for the explanation if we sent you another written explanation of the amount you owe us within the last six months.]  \nThe longer you wait the more you may have to pay to get your vehicle back. Only reasonable expenses may be charged. They must be the direct result of retaking, storing and selling the vehicle. We can also charge you the cost of getting the vehicle ready for sale and reasonable lawyer’s fees. You may make payment or serve notice at:  \n[Name and address of Credit Union]  \nIf you do not pay the amount required to redeem your vehicle [or reinstate your contract], the vehicle will be sold at the time and place set forth above. The money we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you will beheld responsible for any deficiency and we may take action against you for that deficiency. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else.  \nIf you need more information about the sale, call us at [telephone number] or write us at [address] .  \nWe are sending this notice to the following other people who have an interest in [description of collateral] or who owe money under your agreement:  \n[Names of all other debtors and obligors, if any]  \nAny personal property left in the repossessed vehicle will be held for thirty (30) days from the date of the mailing of this notice. The personal property may be reclaimed within the thirty (30) day time period. Thereafter, the property may be disposed of in the same manner as the motor vehicle and other collateral.  \nSincerely,  \n[Credit Union Name]","cbCaie9lEOOrwCv3","https://ap.wps.com/l/cbCaie9lEOOrwCv3","pdf",201897,"English","# Subject and Parties\n## Borrower and Credit Union Information\n# Repossession Details\n## Vehicle Identification and Repossession Date\n# Redemption or Reinstatement Options\n## Option 1: Redeem Only\n## Option 2: Redeem or Reinstate\n# Amounts, Itemization, and Reasonable Expenses\n## Payoff Breakdown Fields\n# Sale, Deficiency, and Surplus Handling\n## Private Sale Timing and Money Application\n# Additional Notices and Personal Property Timeline\n## Other Debtors and Interested Parties\n## Thirty-Day Personal Property Period\n# Closing","[{\"question\":\"What does the repossession notice require the borrower to do within 15 days?\",\"answer\":\"The borrower must redeem or reinstate the contract within fifteen (15) days by paying the required amount. Redemption or reinstatement options are provided in the letter and depend on paying the applicable full amount plus allowed expenses.\"},{\"question\":\"How is the amount due calculated and where can it be itemized?\",\"answer\":\"The template includes fields to show unpaid balance, interest through a date, late fees, repossession fee, and totals, with placeholders for additional costs. It also offers instructions for requesting a written explanation of how the amount was figured.\"},{\"question\":\"What happens if the sale proceeds and the sale price differs from the amount owed?\",\"answer\":\"After paying costs, sale proceeds reduce the borrower’s obligation. If proceeds are less than the amount owed, the borrower remains responsible for the deficiency and may face action; if more, the borrower receives the extra money unless it must be paid to someone else.\"}]","Repossession Notice Letter for Private Sale - 3 - 17 - 21 | PDF",1789554653]