Repossession Laws in Kansas and Missouri

repossession kansas city

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Many people seek advice when they are threatened with repossession of their property.  Repossession is when a secured creditor takes property that is the collateral of a defaulted loan.  Missouri and Kansas differ in law and in practice on how repossession works.

Under Missouri law, the lender must send the borrower a notice of default and right to cure before attempting to repossess property.  This notice may be sent when the loan is at least 10 days past due.  Kansas, however, does not require any notice and lenders may repossess property based on the terms of the loan.

In practice, however, most lenders are a little more forgiving.  As long as an account doesn’t become more than 60 past due, it is rare for a lender to repossess the property.  Remember though, this is not the law.

Repossession usually involves a car or truck.  It can also include boats, trailers, ATV’s and sometimes furniture.  Any property that the lender has a valid security interest in can be repossessed if the loan goes into default.  Both Missouri and Kansas require a peaceful repossession and prohibit violence to collect collateral.

Once a repossession has occurred, the lender has an obligation to liquidate the property and use the sale proceeds to pay towards the balance of the debt.  If the sale proceeds do not cover the balance of the loan, the lender then may attempt to collect the balance of the loan.  This puts the borrower in the position of owing money on property they no longer own.

If you need advice regarding your financial situation, debt issues or a possible repossession of property, please contact our office at 913-422-0909. We offer a complimentary consultation with an experienced Bankruptcy attorney. The consultation can be done via phone or face-to-face at one of our four offices—Kansas: Olathe and Lawrence, Missouri: Independence and Northland KC area.


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Jeffrey L. Wagoner


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