BACK
NOTICE OF INTENT TO DISPOSE OF MOTOR VEHICLE
Lien Holder Name:______________________________________________________________________________
Agent for Lien Holder if Applicable: _____________________________________________________________________________________________
Address of Lien Holder or Agent for Lien Holder:
_____________________________________________________________________________________________
Name of registered owner(s)or(Person(s) liable)also referenced in this document as (you):
__________________________________________________________________________________________
Last known address of registered owner(s) (Persons liable under contract):
____________________________________________________________________________________________
_____________________________________________________________________________________________
Make, model and year of vehicle: __________________________________________________________________
Vehicle VIN # __________________________________________________________________________________
Date of vehicle recovery: ______________________________ Today’s date:_______________________________
To above named registered owner(s)(Person(s) liable:
Please be advised that this is a 15 days' written notice of intent to dispose of the above repossessed or surrendered motor vehicle.
In accordance with state law, this notice is being sent by certified mail, return receipt requested, or first-class mail, postage prepaid,
and directed to the last known address of the persons liable on the contract. If above referenced persons are married to each other,
and, according to the most recent records of the seller or holder of the contract, reside at the same address, one notice addressed
to both persons at that address is considered sufficient under state law and both shall be liable for any deficiency after disposition of
the repossessed or surrendered motor vehicle.
As required by state law, you have been provided this notice within 60 days of repossession or surrender of the above referenced vehicle.
Be advised that those persons liable shall have a right to redeem the motor vehicle by paying in full the indebtedness evidenced by the
contract until the expiration of 15 days from the date of mailing this notice. In accordance with state law you are provided an itemization
of the contract balance now due to bring your contract current and of any delinquency, collection or repossession costs and fees and
the balance of such sets forth the computation of the amount currently due.
REDEMPTION
You have the right to redeem the above referenced vehicle by;
CHECK ONE
____ bringing your vehicle payments and associated expenses current.
____ paying 100% of the outstanding balance of the contract plus associated expenses.
If requiring 100% of the outstanding balance of the contract and associated expenses due;
the reason is cited below:
________________________________________________________________________________________
______________________________________________________________________________________
Itemization of amount due on contract prior to re-condition preparation, remarketing and disposition of vehicle.
Contract balance as of the date of this notice: $_____________
Late fees as of the date of this notice: $_____________
Repossession, storage and associated cost: $_____________
TOTAL $_____________
Itemization of amount due to currently redeem vehicle if applicable.
Payments past due: $_____________
Late fees due: $_____________
Repossession, storage and associated recovery expense: $_____________
TOTAL $_____________
Provided you have been given the right to redeem your vehicle by bringing your vehicle payments and associated expenses current,
you have a conditional right to reinstate the contract until the expiration of 15 days from the date of giving or mailing this notice and meeting
all the conditions precedent thereto.
In the event you were not given the right to reinstate, or redeem your vehicle without full payment of the balance due on your contract plus
associated collection cost, refer to the reason(s) stated for requiring 100% of the outstanding balance.
You have the right, upon written request, that the seller or Seller’s Agent shall extend for an additional 10 days the redemption period or,
if entitled to the conditional right of reinstatement, both the redemption and reinstatement periods. The seller or holder shall provide the
proper form for applying for the extensions with the substance of the form being limited to the extension request, spaces for the requesting
party to sign and date the form, and instructions that it must be personally served or sent by certified or registered mail, return receipt
requested, to a person or office and address designated by the seller or holder and received before the expiration of the initial redemption
and reinstatement periods.
Upon redemption or reinstatement, the motor vehicle will be returned to those persons listed above at the following address:
Business, Lien Holder or Agent name:_____________________________________________________________
Address: ____________________________________________________________________________________
Phone# : ______________________________________ Contact if known _______________________________
Days of week ___________________________________ Standard Hours of operation _____________________
PAYMENT TO BE MADE
Prior to redemption or reinstatement, payment must be made by cash or cashier check and received by:
Name of Business: ___________________________________________________________________________
Address: ___________________________________________________________________________________
Personal contact if applicable: __________________________________________________________________
Other instructions if applicable: __________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
In the event the redemption or reinstatement payment is not received upon the expiration of 15 days
from the date of giving or mailing the notice, or if by mail and either the place of deposit in the mail or
the place of address is outside of this state, the period shall be 20 days instead of 15 days, and
further, that upon written request to extend the redemption period and any applicable reinstatement
period for 10 days, the seller or holder shall without further notice extend the period accordingly it is
the seller's or holder's intent to dispose of the motor vehicle upon the expiration of 15 days.
Upon written request, the seller or holder will furnish you a written accounting regarding the
disposition of the motor vehicle provided this request must be personally served or sent first-class
mail, postage prepaid, or certified mail, return receipt requested, to the Business, the address and
the contact person designated by the holder as referenced above in the section described as
“Payment To Be Made” and such request must be received prior to redemption or reinstatement.
"NOTICE. YOU MAY BE SUBJECT TO SUIT AND LIABILITY IF THE
AMOUNT OBTAINED UPON DISPOSITION OF THE VEHICLE IS
INSUFFICIENT TO PAY THE CONTRACT BALANCE AND ANY OTHER
AMOUNTS DUE."
You are hereby notified that upon the disposition of the motor vehicle, you will be liable for any
deficiency balance plus interest at the contract rate, or at the legal rate of interest in accordance
with state law if there is no contract rate of interest, from the date of disposition of the motor vehicle
to the date of entry of judgment.
Sincerely,