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Click ‘Get Form’ to open the mv2117 in the editor.
Begin by entering the Title Number and New License Plate Number at the top of the form. Ensure accuracy as this information is crucial for processing.
In Section A, fill in the Secured Party's name and address, ensuring it matches DMV records. Include the Vehicle Year, Make, and Identification Number.
Complete the Repossessed From section with the name and address of the previous owner. Provide their Social Security Number or Driver License Number.
Indicate the Date Repossessed and State of repossession. Fill in details regarding any notice given to subordinate lienholders.
In the Odometer Mileage Statement, accurately state the current odometer reading and check if it reflects actual mileage or discrepancies.
Finally, ensure all signatures are completed where indicated, including those of both buyer and repossessor before submitting your form.
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What happens to your plates when your car is repossessed?
Some lenders automatically cancel it for you. However, some states require the vehicle owner to go to the DMV and complete an affidavit of repossession. Lender Tip: You cannot instantly transfer license plates from a repossessed vehicle to any other vehicle.
What are my rights if my car gets repossessed?
California law provides borrowers the right to reinstate their loan after default. This means that if your vehicle is repossessed due to missed payments, you have the right to bring the loan current by paying all past-due amounts, plus any fees and charges, to regain possession of the vehicle.
How do I get proof that my car was repossessed?
If your car was repossessed, you can call the dealership or your lender to find out if they initiated a repossession. If they did, they should be able to tell you who the repo agent is.
What happens when your car is repossessed in Wisconsin?
What happens after repossession in Wisconsin? After the car is repossessed, the lender will store it in a secure location. You have the legal right to redeem your car by paying the full amount owed on the loan, plus any towing and storage fees.
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