Vehicle Illegally Repossessed?
Date: Sun, 05/03/2009 - 05:19
I financed a vehicle in California, where I'm stationed through a bank based out of Florida back in 2006. Late 2007 I couldn't afford to keep insurance on my vehicle so I parked it in my barracks parking lot, and the registration had also expired. After my car sat there for about 2 weeks the MP's had my vehicle towed to a local auto shop where the bank was called, had a representative come and allowed them to sell my vehicle. Now here's the fishy part. They didn't tell me they were selling my vehicle, they did not report my vehicle as being repossessed, and it did not show up on my credit report that it was repossessed. I am still making payments to this day and have never missed a payment or been late on a payment. They are also still reporting to the credit agencies that I am making payments. They also did not reimburse me the amount that the vehicle was sold for on my loan balance. Now, I only have 4 or 5 months left of payments. What is going to happen when it's paid off? Are they going to give me the pink slip to a car they sold? Is what they did illegal?
This does sound odd. I'm bumping this topic so others will see i
This does sound odd. I'm bumping this topic so others will see it, keep checking back for responses.
Wow I have never heard of this one. You are paying on a vehic
Wow I have never heard of this one.
You are paying on a vehicle that was not Legaly repossessed?? :?
Now I can understand the repo on the grounds of lapsed insurance
Now I can understand the repo on the grounds of lapsed insurance...most finance contracts require insurance. Now being parked with expired tabs caused it to be impounded...depending on how long it sat there, they would have notified the lien holder.
You get the pink slip? No...I highly doubt that.
They sold your vehicle and didn't even tell you about it, before
They sold your vehicle and didn't even tell you about it, before or after? Just how many State and Federal laws does THAT violate? I can think of the Federal one - Truth in Lending Act.
Now... let's sit in their chair for a couple of minutes - they sold the car out from under you and you are still making the payments every month - why should they do anything to upset THAT apple cart?
You should be talking with your JAG, not here.
Quote: they sold the car out from under you and you are still m
Quote:
they sold the car out from under you and you are still making the payments every month - why should they do anything to upset THAT apple cart? |
I am wondering the same thing :?
