Affidavit Of Repossession

Posted By: JJohns

Affidavit Of Repossession - 07/10/03 09:37 PM


We sell our repossessed vehicles through dealer-only auctions. One of those auctions has advised us that some new text is now required on the "Affidavit Of Defense" form required by 625 ILCS 5/3-114. The required new text (per the auction) is preceded by a check box and reads: "Check if certificate of title is lost and no third party is involved in the transaction". Is anyone aware of such a requirement? We can't think of any reason not to include the line on our AOR form but I wanted to run it by the BOL crew.
Posted By: Anonymous

Re: Affidavit Of Repossession - 07/10/03 09:54 PM

I can't help you on it - I used to run our collections department and I would know it then, but don't keep up on the laws anymore. If you don't get an answer, I still have the name of the attorney I used to use for consultations and BK's - happy to pass it along if you want to PM me. Maybe you'll get your answer w/o paying a lawyer though.
Posted By: JJohns

Re: Affidavit Of Repossession - 07/11/03 07:41 PM

Thanks for the feedback CubDave. We asked the auction to let us know the source of their info; if they can do that it should help.
I've heard some say that working in the collection department is akin to the Roach Motel- once you check in, you don't check out. Sounds like you've debunked that theory. I actually enjoyed most of the time I spent in the 'dialing for dollars' area.
Posted By: Anonymous

Re: Affidavit Of Repossession - 07/11/03 09:04 PM

I never dialed, but the three people I managed were three lively characters and it was never dull - I enjoyed it very very much. I even went on a repo myself once which turned out to be hilarious.