Car Repossession information from the NC Department of Justice. Helpful suggestions for those behind on car payments or facing automobile repossession.Upon default, the lienholder often has the right to immediate repossession unless there is a "grace period" provided for in the language of the contract. View current repossessions, request more information and submit offers. What you need to know about financing: how to apply, who can apply, loan requirements and credit approval FAQ's. This page will provide an overview of North Carolina's Repossession Laws and what you should know if you've fallen behind on car payments. The amount on the 1099C seems like they are changing what we owe, did not adjust the money they received selling the vehicle. With the Ford Promise, you can buy or lease an eligible Ford vehicle through Ford Credit.