When it comes to repossessing vehicles, do you know the legal notice requirements? On this episode of Banking on Credit Unions, Attorneys Jim Sorensen and Tyler Van Leuven demystify the repossession notice laws in FL and GA. Learn what notices must be given before and after repossession, common mistakes to avoid, and best practices for compliance. 

Tune in to get the insider scoop on repossession rules so you can steer clear of lawsuits and pitfalls!

Other subjects covered on the show:

• Reasons when notice should be given in FL/GA before repossession, like accepting late payments or after a death.
• Details on the "no more late payments" notice and when it should be sent.
• Explanation of the notices required after repossession in FL/GA - Notice of Intent to Sell and Explanation of Deficiency.
• Importance of sending notices by certified mail with return receipt to all obligors.
• Common mistakes like improper notices or repossessing without valid default.
• Tips for best practices such as annual legal review of documents, detailed procedures, and staff training.
• Options besides repossession like suing on the note if the car isn't worth taking.
• Guidance on out-of-state repossessions and checking local laws.
• Examples of lawsuits and damages that can happen with improper notices.
• Discussion on voluntary repossession agreements and process recommendations.

If you want to know more about the SVL Law Team, you may reach out to them at:

Website: https://svllaw.com/ 

                 https://svllaw.com/podcast/