The following are guidelines to help you formulate a repossession policy for the credit union to follow. A creditor cannot repossess something that hasn't been named as collateral for your debt.An unsecured personal loan is an example. Question: How long does it take for an auto lender to repossess a vehicle after missed payment or defaulting on contract terms? View answers to the most frequently asked questions from Orange County's Credit Union Members. 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. Any personal property left in the repossessed vehicle will be held for thirty (30) days from the date of the mailing of this notice. Garden Savings Federal Credit Union in Parsippany-Troy Hills, Dover, and South Orange NJ is a federal credit union you can trust. Call our bank today. Complete this form and bring it with the license plates, if any, to any Motor Vehicles office.