The Notice of Redemption tells you whether the creditor will keep or sell your car. It also tells you if you have a right to buy back your car.Repossessed from Owner (Borrower) Name: Address. Understanding Illinois car repossession laws a comprehensive guide to your rights and available options. Steps on how to handle a repossessed car from getting your car back to at least get your items out of the car. The purchaser must submit: • Application for Vehicle Title and Registration (if applicable) and appropriate fee. In Illinois, a vehicle can be repossessed after just one missed payment. Lenders are allowed to seize your car as soon as you default on the loan terms. Illinois laws do not require creditors to send you a notice of repossession before taking possession of your vehicle. However, Illinois law does not require a creditor to notify a debtor prior to proceeding with a repossession.
