Missouri Repossession Checklist
Missouri Repossession Checklist
General Items
- Consult with Legal Counsel if Needed
Before Repossession
- Review Loan Agreement
- Check for Default Conditions
- Provide Notice of Default
- Offer a Grace Period
- Document Communication with Borrower
During Repossession
- Confirm Legal Right to Repossess
- Hire Licensed Repossession Agent
- Notify Local Law Enforcement if Necessary
- Avoid Breaching Peace During Repossession
- Document Repossession Process
After Repossession
- Notify Borrower of Repossession
- Inventory Repossessed Items
- Store Items Securely
- Determine Sale Method for Items
- Provide Notice of Sale to Borrower
- Account for Sale Proceeds
Generated from Panda Checklist
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