Can my car be repossessed right now during the pandemic 2021

S T A T E O F N E W Y O R K ________________________________________________________________________ 2849--B

Can my car be repossessed right now during the pandemic 2021

S T A T E   O F   N E W   Y O R K ________________________________________________________________________ 2849--B 2021-2022 Regular Sessions I N  S E N A T E January 26, 2021 ___________ Introduced by Sens. THOMAS, MAYER -- read twice and ordered printed, and when  printed  to be committed to the Committee on Consumer Protection -- committee discharged, bill amended, ordered  reprinted  as  amended and  recommitted  to  said  committee  --  committee  discharged, bill amended, ordered reprinted as amended and recommitted to said  commit- tee AN ACT in relation to restricting the repossession of motor vehicles and mobile  homes  for persons suffering financial hardship as a result of the COVID-19 pandemic THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM- BLY, DO ENACT AS FOLLOWS: Section  1.  For  the  purposes of this act, the following terms shall have the following meanings: 1. "Covered period" means March 7, 2020 until the  later  of  December 31,  2021  or date on which none of the provisions that closed or other- wise restricted public or private businesses or places of public  accom- modation,  or required postponement or cancellation of all non-essential gatherings of individuals of any size for any reason in Executive Orders 202.3, 202.4, 202.5, 202.6, 202.7, 202.8, 202.9, 202.10, 202.11, 202.12, 202.13, 202.15, as extended by Executive Orders 202.28 and 202.31 and as further extended by any future Executive Order, issued  in  response  to the  COVID-19 pandemic, continue to apply in the county of the qualified buyer's residence. 2. "Qualified buyer" means an individual (a) whose  primary  residence is  located  in  New  York and is encumbered by a vehicle-secured credit obligation, or (b) whose primary vehicle is used for  transportation  to work, school, or medical appointments and is encumbered by a vehicle-se- cured credit obligation. 3.  "Holder of a retail instalment contract" shall have the same mean- ing as set forth in section 301 of the personal property law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08682-04-1 S. 2849--B                          2 4. "Financial hardship" means (a) significant loss of household income during the COVID-19 pandemic; (b) increase in necessary out-of-pocket expenses related to performing essential  work or related to health impacts during the COVID-19 pandem- ic; (c) childcare responsibilities or  responsibilities  to  care  for  an elderly,  disabled,  or  sick family member during the COVID-19 pandemic have negatively affected the ability of holder of  a  retail  instalment contract  to  obtain  meaningful  employment or earn income or increased necessary out-of-pocket expenses; or (d) other circumstances related to the COVID-19  pandemic  have  nega- tively  affected  the  ability  to  obtain meaningful employment or earn income or have significantly reduced household income  or  significantly increased expenses; and public assistance, including unemployment insur- ance,  pandemic  unemployment  assistance, disability insurance, or paid family leave, does not fully  make  up  for  lost  household  income  or increased expenses. 5.  "Vehicle-secured  credit  obligation"  means  either  a  loan  for personal, family, or household purposes that is secured by a mobile home or motor vehicle; or a retail instalment contract as defined in  section 301 of the personal property law. § 2. 1. Notwithstanding any provision of law to the contrary, no cred- itor,  or  seller  of  a  motor  vehicle  subject to a retail instalment contract shall repossess or otherwise take possession of a  mobile  home or  motor  vehicle  of a qualified buyer for the duration of the covered period for failure of the qualified  buyer  to  make  payments  if  such person is experiencing financial hardship related to the COVID-19 public health emergency and is unable to make a loan or other agreed on payment for a vehicle-secured credit obligation. 2. A qualified buyer who is experiencing financial hardship as defined in  this  act  shall make a written declaration to that fact and provide such declaration to the holder of a vehicle-secured credit obligation. A holder of a vehicle-secured credit obligation may  request  a  qualified buyer submit a written declaration of hardship every 3 months. 3.  No  holder of a vehicle-secured credit obligation shall report any new adverse information that is a result of the COVID-19  public  health emergency to any consumer reporting agency. 4.  No  holder of a vehicle-secured credit obligation shall assess any fees, penalties or additional interest  on  any  vehicle-secured  credit obligation for the duration of the covered period. 5.  Upon  expiration of the covered period, no holder of a vehicle-se- cured credit obligation shall require a lump sum payment or  assess  any fees,  penalties  or  additional  interest on any vehicle-secured credit obligation owed for the duration of the covered period. A  holder  of  a vehicle-secured credit obligation shall shift the missed payments to the end of the scheduled term. § 3. This act shall take effect immediately.

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