The creditor cannot repossess by force or by breaking into a house, for example.
From the dallasnews.com
Banks are required to go through an auction to repossess a house from the owners.
From the abcnews.go.com
However, the Bank of Western Australia is threatening to repossess that property.
From the smh.com.au
That way, the Heisman Trust will know where to find it if they decide to repossess.
From the sportsillustrated.cnn.com
Going to state court to repossess the car or garnish wages is not an option.
From the forbes.com
If not, the bank is allowed to repossess or foreclose on their collateral.
From the ocregister.com
Banks don't want to repossess the airplane and I don't want to repossess the airplane.
From the forbes.com
They said Sears could repossess the blinds and valance any time it wanted.
From the post-gazette.com
Then there are all the houses it has to repossess as people stop paying their mortgages.
From the time.com
More examples
Reclaim: claim back
Take back: regain possession of something
(repossession) the action of regaining possession (especially the seizure of collateral securing a loan that is in default)
Repossession is generally used to refer to a financial institution taking back an object that was either used as collateral or rented or leased in a transaction. ...
(Repossessed (album)) Repossessed is an album by Kris Kristofferson, release on Mercury Records in 1986 (see 1986 in music). ...
(Repossessed (novel)) Repossessed is a children's black humour novel by A. M. Jenkins.
(Repossessed (Jokes)) What happened to the guy who couldn't keep up payments to his exorcist? He was repossessed.
(Repossessed) (2002) as Alison Labatte
(Repossessed) If you buy your home with the help of a secured loan then the lender will usually protect their interest by registering a 'legal charge' against your house. This means that when the house is sold you will first have to repay the lender any money you have outstanding. ...