Many people in this economy are finding themselves struggling to keep up on their car payments. When you get behind on your auto payment, you run the risk of your car being repossessed or “repoed.” A car loan gives the bank, finance company, or title loan company a lien on your vehicle: this is called a security interest. What does this mean? It means that the creditor (the “secured creditor”) has the right to take back the collateral (the car) if the payments are not made for a certain length of time. Banks or finance companies holdings such loans can use “repo men” to find and take back (“repossess”) cars that are in default on their payments.