This is to update you on Wisconsin’s new self-help repossession law (2005 Wisconsin Act 255), which became effective on April 13, 2006. The new law amends the Wisconsin Consumer Act and permits, under certain circumstances, "self-help" repossession by creditors of motor vehicle collateral following defaults in consumer credit transactions. Previously, Wisconsin creditors were required to obtain a replevin judgment in small claims court before taking possession of collateral. Until this law was changed, Wisconsin was the only state in the country to require creditors to take this judicial action before retaking collateral after a loan default.
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