The following are guidelines to help you formulate a repossession policy for the credit union to follow. Learn more about New York's repossession laws, what New York repo agents can and cannot do, and what happens after the car is taken away.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. 1. Enter the lienholder's name and address. Many states allow repossessors to enter private property to complete a repossession, so long as the taking is without breaching the peace. Even if you successfully complete a voluntary repossession, the payments you missed on the auto loan will still appear on your credit report. I missed a payment last month but had intended to make the next one. Sometimes, getting a low-interest loan from a bank, credit union, friend, or family member makes sense. To change your company's address, complete and submit the Address Change (Company) form to the Bureau.