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Illinois law requires that repossession agents be licensed and have insurance.  It also requires that agents keep track of all repossessions with recovery tickets purchased through the Illinois Commerce Commission.  As the entity charged with regulating repossession agents, the Commerce Commission’s website has helpful information for you to check out if your vehicle is repossessed — https://www.icc.illinois.gov/CollateralRecovery/.

Through the website, you can examine current license information and learn your rights post-repossession.  For example, repossession agents must inventory any personal property left in a vehicle during a repossession and tell you how to get your property back.  Agents must also notify local police before a repossession occurs and provide the agency’s name, license number, and the color, make, model, VIN, and description of the collateral being repossessed.  Within 30 minutes of the repossession occurring, the agency must then inform police of the date and time of the repossession.

If your car has been repossessed, contact your local police department to see whether the repossession has been properly reported.  If you don’t receive a notice from your finance company within 3-5 days of the repossession, make sure you call to find out where your vehicle is and the identity of the repossession agency to minimize possible storage fees.  But watch out – repossession agents may force you to sign documents when picking up your belongings or your vehicle so be sure you don’t unknowingly release any claims you may have for damages or unfair conduct.  You have the right to refuse signing a release and consult a lawyer for assistance.