Which of the following are types of property that may be repossessed?

• A. Wage garnishments
• B. Real property foreclosures
• C. Inventory in a warehouse
• D. Self-help remedies (auto repo)

Answer: (D)

Repossession is the lender’s right to take back collateral when the borrower defaults on a secured loan. This remedy is typically used for movable, tangible property that can be recovered from the debtor—most commonly an automobile. Reclaiming a car, often through a self-help process, is allowed in many jurisdictions as long as it’s done without a breach of the peace and in line with applicable rules.

Wage garnishments aren’t repossession of property; they are withholding a portion of the debtor’s wages to satisfy the debt. Real property foreclosure is a separate legal action affecting real estate and usually involves court proceedings, not private repossession. Inventory in a warehouse could be collateral in theory, but repossessing it is less typical and more complex than auto repossession. The typical, straightforward example of a repossession remedy in practice is auto repossession through a self-help process.