Consumers have a 7-day rescission period on these contracts. It is illegal to disconnect, reset or replace an odometer for the purpose of changing the number of miles on it. Make sure you receive a written odometer disclosure certificate when you purchase a car. Unless the contract states otherwise, the goods may be repossessed without a Court Order as long as the action does not result in a breach of peace. To avoid problems, contact creditors prior to missing a payment and request their assistance and understanding.
Consumers are liable to the creditor for reasonable repossession expenses.
Unless the goods are perishable, notification must be given that the goods are to be resold. If the goods are sold for more than the original consumer owes, the difference is owed to the original consumer. However, if the goods are sold for less than the amount owed, the original consumer is responsible for the deficiency. Debt Collectors are regulated by federal law. They are not allowed to contact consumers at work if employers disapprove.