when a car is repossessed what is the process
in Auto Loans. on October 7, 2013. The car repossession process is fairly straightforward. First you may receive a letter saying your loan payment is past due. This doesnât always happen. If itâs specified in your loan contract, youâll get the letter. A few days after the letter is sent, youâll get a phone call from the loan company saying the payment is late and asking what you plan to do to avoid repossession.