Forms MV-217 and MV-217A. This page will provide an overview of Pennsylvania's Repossession Laws and what you should know if you've fallen behind on car payments.If you didn't have insurance for a short time and didn't drive, you also need to fill out the Form MV-221, "Statement of Non-operation of Vehicle. Lenders, such as banks, credit unions and financial institutions, are not required to notify the borrower in advance of a repossession. You will need to contact your loan company. Some loan companies will not give you any credit for voluntarily turning in the car v. The lienholder of a repossessed vehicle may apply for a certificate of title for the last vehicle owner according to BMV record. This form certifies the purchase price and determines the sales tax you must pay when registering the vehicle. Vehicle repossession is inconvenient and worrisome, but it is possible to get your car back after the repossession agent comes. Appropriate tax form and separate check payable to Illinois Department of Revenue (see Tax Requirements on back).
