Purpose: A lienholder or lienholder's authorized agent uses this form to apply for a Virginia repossession title (in the. Notice Of Vehicle Repossession Letter Template ✓ easily fill out and sign forms ✓ download blank or editable online.This page will provide an overview of Virginia's Repossession Laws and what you should know if you've fallen behind on car payments. Use our library of forms to quickly fill and sign your Virginia Department of Motor Vehicles forms online. Are you considering taking out a car title loan, but you don't know much about it? Agreement, the lienholder may repossess and transfer ownership without securing title in the dealer's name. Liquidation Documents: Affidavit of Repossession, Certificate of Title, Q-1 form to transfer. Even if you successfully complete a voluntary repossession, the payments you missed on the auto loan will still appear on your credit report. The lender can pursue repossession of the car once the contract is breached. Most lenders do not attempt to repossess a vehicle after one missed payment.
