How Can a Vehicle Be Repossessed or Redeemed?
Governed by the Uniform Commercial Code and the Pennsylvania Motor Vehicle Sales Finance Act (MVSFA), a creditor is entitled to take possession of a vehicle without judicial process if it can be done without a breach of the peace. The creditor must hold the vehicle in the county where it was retaken for 15 days, and must give consumer a written “Notice of Repossession” as soon as the vehicle has been repossessed, 69 P.S. Sec 601 et seq. Upon repossession, the creditor may sell or dispose of the vehicle in any commercially reasonable manner. Sale of the vehicle may be by public or private proceeding. The creditor is required to give the borrower reasonable notification of the time and place of the sale. Notice must be sent by certified or registered mail. Although “reasonable notification” is not defined, the better practice is to give 15 days to comply with both the U.C.C. and the MVSFA. The creditor may purchase the vehicle at any public or private sale. The proceeds of the sale or ot
