The lienholder must first title the repossessed vehicle in their name before reselling. Virginia law requires lenders to give a minimum 15day notice to borrowers whose vehicles will be sold.If you don't make your car payments on time, your lender might have the right to take your car without going to court or telling you first. A licensee shall not repossess a motor vehicle securing a title loan prior to the date specified in the notice. A licensee shall not repossess a motor vehicle securing a title loan prior to the date specified in the notice. After repossession, Virginia law requires lenders to provide a written notice to the borrower detailing the disposition of the repossessed vehicle. A City employee retrieves a vehicle's keys at the impound lot. Repo's Allowed: After 20 day "Right to Cure" letter from lienholder to debtor, repossession allowed without committing a breach of peace. It must clearly state that if you don't pay this balance within 10 days your vehicle could be repossessed.
