If you don't make your car payments on time, your lender might have the right to take your car without going to court or telling you first. Credit card (Visa, MasterCard, or Discover only).In Virginia, there is no deadline to file a response to a debt lawsuit. If your vehicle is repossessed: • Your creditor may decide to keep it as compensation for your debt or resell it in a public or private sale. Repossession occurs when your lender seizes this asset because you defaulted on what you owe. Cars are the most commonly repossessed assets. The Dealer Manual is provided primarily as a reference guide for Motor Vehicle Dealer Board. (MVDB) dealer transactions conducted in the State of Virginia. This product provides you with the necessary letter(s) template for you to use in order to help remove vehicle repossessions from your credit report. (e) Motions to Strike.