Repossessing Automobile Collateral in Georgia
Repossession of personal property, which has been used as collateral for a loan, is governed
by Section 6 of the Georgia Commercial Code Annotated. The Georgia repossession process is
fairly straight forward with only a few notices required to be sent to the borrower. However,
each notice must contain very specific language and be sent in accordance with the specific
time frames as laid out in the Georgia Code. The following paragraphs provide a brief
overview of the Georgia Code’s requirements.
The first notice to the borrower is not an official part of the repossession process, but is laid
out and made a part of the initial financing agreement or contract. This notice is the
disclosure to the borrower of the remedies in the case of default. It is important to review the
contract carefully to ensure it does not provide the borrower with additional rights or notice
requirements above and beyond what is required by Georgia law.
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