What is the Alberta law regarding vehicle repossession?

Under Alberta's laws, a creditor can repossess a vehicle if:

- The debtor has defaulted on the loan payments

- The debtor was in possession of the vehicle, but there was no default

- The debtor has waived the right to repossession

When can a secured creditor repossess?

They may repossess immediately if the debtor abandons the vehicle or allows the insurance to lapse.

Additionally, a creditor can repossess:

- As long as the creditor retains possession of the vehicle, ten days after the secured creditor gives notice of the default and intent to repossess unless the debt is paid or secured

- Five days after the secured creditor gives notice if the debtor has concealed or removed the vehicle from Alberta with the intent to avoid repossession

However, a secured creditor must not repossess during a period of economic distress.