The letter describes how to get the car back, and what will happen if it is sold. I certify that I, or the firm, company, or corporation I am authorized to represent, am the legal owner within the meaning of California Vehicle Code.Contact a San Diego debt attorney at (888) 875-9190 if you are threatened with repossession or have had your vehicle repossessed. California law permits cars to be repossessed after one late or missed loan payment. Cars may be repossessed after missed insurance payments as well. You should be able to notify the DMV either on line or in person at a local office. Repossession Intake Form. A chargeoff means the lender assumes you won't repay the debt. Having a loan charged off does not mean you're off the hook for repayment. Vehicle repossession is complete when the repossessor gains entry to the vehicle or when the vehicle is hooked up to a tow truck.