Debt Collectors Don't Repo Cars - They Will Get You To Sign A Voluntary Surrender

Repossessions

A Debt Collector does not do repossessions, instead they will get you to sign a Voluntary Surrender for your goods, furniture, motor vehicle.  Only a Sheriff can do repossessions with a court order. The Sheriff must display his badge. Most Debt Collectors act like sheriffs and threaten consumers, this is against the law.

Voluntary Surrender

Surrender or return of goods by the consumer and how it affects the consumer The Act specifies that a consumer can withdraw from an instalment sale, secured loan or lease agreement at any time by returning the goods to the credit provider. When the consumer returns the goods to the credit provider, the credit provider is expected to sell them and credit the consumer's account with the proceeds of the sale. If the proceeds from the sale are more than the consumer's debt, the credit provider must refund any surplus to the consumer. If the proceeds are less than the consumer's debt, the consumer is obliged to pay the outstanding amount the credit provider within 10 days. 

NCA (Section 127)

Code of Conduct of a Debt Collector

A debt collector is NOT allowed to …

• Use force or threats against a debtor or any other person who has ties with the debtor;
• Use intimidation against a debtor or any other person who has ties with the debtor;
• Make fraudulent or misleading representations including: " I am here to Repo your Car"
• Making or using fraudulent legal or official documents;
• Represent themselves as a police official, sheriff, officer of the court or any person other then a debt collector.
• Practice as a debt collector if he or she is convicted of an offence that has an element of violence, dishonesty, extortion or intimidation;
• Spread or threaten’s to spread false information concerning the creditworthiness of a debtor;
• Violate the provisions of the code of conduct.