The following is a sample vehicle repossession letter disputing collection activities associated with a deficiency from a motor vehicle repossession. I owe less than 1000 on a car loan and was laid off.My contract is about to expire and Honda is threatening repo. Due to non-payment of dues. If you are going to voluntarily turn in your car you will need to call the finance company and set up a time where you can bring the vehicle to them. This product provides you with the necessary letter(s) template for you to use in order to help remove vehicle repossessions from your credit report. That letter must include the following four paragraphs: 1. Virtually all car loans in the 5th year of 6 have significant equity assuming that the car was reasonably maintained. Reach out to our North Carolina bankruptcy law firm today for a free consultation. Sale receipt itemizing how much the buyer paid for the vehicle and sales tax, if any.