Repo's Allowed: After 20 day "Right to Cure" letter from lienholder to debtor, repossession allowed without committing a breach of peace. 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.Have your attorney review the contract prior to repossessing. In this article, I am going to explain what those situations are, the laws that regulate this area, and what you can do about a wrongful repossession. If you do reach an agreement, ask the creditor to send it to you in writing. Provisions in the contract of sale. When someone takes out an auto loan, they grant the lender a "security interest," otherwise known as a lien, on the vehicle. You'll avoid the costs of repossession and a negative entry on your credit report. What can I do if I can't pay my student loan? Search and apply to our open Finance jobs in San Jose Ca. Our full-time, freelance and temporary Finance roles are updated daily.