Using Replevin to Recover Assets

 Posted on March 27, 2025 in Debt Collection

When a debtor has defaulted on debt and collections efforts do not yield results, one significant asset recovery option that creditors can use to get their assets back is replevin. When asking for the assets back or sending a demand letter does not work, replevin can be a useful and significant tool in the commercial debt collection toolbox when personal property such as vehicles, furniture, or electronics are at stake. A Cook County, IL asset recovery attorney can assist you in a replevin action to take back possession of your property. 

How Does Replevin Work to Recover Assets?

Replevin is a legal action that allows a creditor to retake possession of personal property that has been wrongfully taken from them. In a replevin action, the creditor seeks to get back the actual asset rather than the cost of the asset. It is often utilized by creditors wishing to take back possession of a vehicle when the debtor has defaulted on the loan for the vehicle, but replevin can be used to recover all kinds of personal property.  

Replevin may not be used to recover on real estate, however. If you prevail in a replevin lawsuit, the court will grant you the right to take back the personal property. The debtor must abide by the court’s order or risk civil or criminal penalties. 

What is the Procedure for Replevin?

It is important to follow the correct procedures in a replevin action:

• The creditor files a lawsuit, describing the property and stating that the creditor has a right to possess the property, as well as other information such as the value and location of the property. 

• A preliminary hearing is held to determine whether to issue the replevin order.

• The court gives the debtor notice and the right to challenge the order.

• The court holds a hearing to enter the order.

• The creditor posts a bond guaranteeing that they will take responsibility for all costs related to the replevin if they are ultimately found not to have a right to take possession of the property. 

• If the court rules in the creditor’s favor, the Sheriff takes possession of the property and gives it to the creditor.

Call a Cook County, IL Asset Recovery Attorney 

If your commercial debtors have defaulted on their secured debts you may have to take action to recover these assets. At Teller, Levit & Silvertrust, P.C., our firm represents clients through the asset recovery process, including the use of replevin and other asset recovery methods. Call us at 312-922-3030 and speak with an experienced Chicago, IL asset recovery attorney.