Car Repossessions are on the Rise

Although most of the attention of the financial crisis brought about by the coronavirus pandemic has focused on the evictions and foreclosures facing millions of out-of-work Americans, the number of repossessions of motor vehicles because of loan defaults is starting to increase dramatically.

With the expiration of a ban on debt collection actions having ended in Massachusetts on July 31, lenders have begun to repossess the motor vehicles whose owners have defaulted on their loans.

We are not taking issue with the lenders — who only are seeking to protect the value of the motor vehicle for which they have the title — but we are mentioning it to point out that this is yet another side effect of our nation’s feeble national response to the pandemic.

The loss of an automobile will have catastrophic consequences for many families. But the sad reality is that some policymakers in Washington obviously do not care.