Chase auto finance - What happens if we do not pay for few months?

With the current state of the economy, more and more mortgage and car loan companies are willing to help wiht flexible terms and payment plans. The long term goal is for you to pay so I would call them, explain the situation and see what they can do.

Perhaps they can refinance the loan or defer payments.

Good luck!

They can't repo a vechile in less it in over 60 days past due. Chase has been sued in the past for repo'ing before that day and it caused a lot of bad publicity so they are no longer allowed to do it. The auto loans department is very helpfull as long as you call them and ask for help. Try getting a hold of a team lead or a supervisor for assistance.

KJ - that post is almost a year old!

Quote:

they have to send written intentions to repo. a vehicle

Guest, in some states they may have to, in others they don't. If you default (even by 1 day) they have the right to repo it. In many cases they don't start repo process until 60 + days past due.

I live In NC and Prestige Financial is based out of Utah who we have out auto loan with. They call us the day the payment is due, and will repo it if you are 5 minutes late. They have been the biggest the nightmare of my life.
So I believe that if you are late they can get the car, without warning because it should be stated in a contract what the consequences will be if you default!

Chase is a nightmare to deal with. I had a vehicle loan through them for $12,000. I paid them every month OVER the minimum for 2 years. Then I lost my job and everything went to hell. I called to see what help they could offer me and all I got was "tough luck". They said once I was a month or two behind they could enter me into a hardship program where the payments would be tacked onto the back of my loan. So, considering this to be true, thats what I did. 60 days came and I called in to enter into the hardship program. Then they said they needed a $350 deposit which I didn't have... 2 days later my car was gone. Within 45 days it was sold for $3,000. The kelly blue book of my vehicle was $6,000 if it was in POOR condition. Mine was in excellent condition. But they sold it for $3,000 so now I'm stuck with $8,000 worth of payment for a car I don't have, because a rep LIED to me.

Now they won't take payments on that, they sent a letter stating they want $8,000 in 10 days. If I had that then I wouldn't have fallen behind. You can't squeeze blood from a stone!

Good luck dealing with them.

What is the law in NC about repossessing a vehicle? and how to collect money owed?

how many days late can chase repo a car in the state of tn /how could i get the car back/how long

As stated above, there is no "legal" time-frame. Technically, if you're one day late, then they can repossess. Although most companies won't entertain the idea of repossession until an account is 30-60 days past-due.

To get the car back, you usually have to "redeem" to repo by paying the past-due amount + costs of repossession (also probably have to show current proof of comp/collision insurance). In certain situations, they can demand the entire loan balance.

In TN the redemption period is 10 days. If you don't redeem within 10 days, then they can sell the vehicle.

so dumb ******** from chase just called me and said they were going to repo my car and i am 15 days late and i need to make a payment and i had sent it last week to them and he had not recived it yet ...told him to check the mail and he told me a payment over the phone was needed or they were coming to get it ... so is he full of **************?

i'm in the middle of working an deal with chase. Spouse didn't keep up payments while i was gone (long story). anyways talk to them about it before they call and talk to a supervisor who can make decisions and record the call! they do. I was able to negotiate a settlement where i sell the vehicle at fair market value price agreed upon between me and chase. the money goes to chase and the account is settled. They allow 30 days for the process to happen. chase would much rather get money this way cause they actually loose more money on repo's than this method. I just started the process today so i'll keep everyone up date on how it actually goes, knowing the reputation of chase.

chase bank sucks out loud

I recieved notification of intention to repossess my truck... i asked what i needed to do to prevent this. i was told that i needed to pay my loan current and it would be no problem... i went to chase to pay the pastdue balance. during this time they were repoing the truck. after i made the payment and called them back i was told there was nothing that cold be done about the situation... my loan was defaulted (even though at this point it was paid up) and they were not going to restate it... when i brought up the arrangement,i was told that even though i could name who I spoke to and they verified the time, that my story was false and the arrangement never happen... I've had to contact my lawyer to see if there is something he can do... I just want my truck back...

i miss wamu

I just filed a chapter 13 bankruptcy. I finally figured out what a cram down what and why it worked - I guess there's a federal law that says you have to have had the loan for 910 days for a cram down to work. As it turns out only current fair market value is what is considered "secured" by the court, the remainder is considered "unsecured", according to the paperwork I just reviewed in my case. As it turned out, all my unsecured debt went away and the only payments I will have to make for five years is on the "secured" portion of my auto loan.

Yes, a lot of people don't know about "Fair Market Value" and end up getting royally shafted by unscrupulous repoed vehicles allegedly "sold" for pennies on the dollar. If you get a repo and the finance company comes after you with a ridiculous amount, you may be forced to either file bankruptcy, or wait for them to sue you and claim that the collateral was not sold at a commercially reasonable price and they will have to eat the amount they tried to screw you for, which amount will be ascertained through the process of Discovery (you will also need to file a Motion for Discovery - but *any* time a creditor sues you, you should *always* file Discovery).

I'm trying to get a class action lawsuit together for a lawyer..Yes Chase are nothing but a bunch of liars..they took a bail out and still suck the blood from your veins! Lost our auto after we lost our income..Chase had a hardship program and we were told to wait 60 days but they still repoed the SUV..and sent a bill for almost the price of the loan! They sold a $7500 SUV for under $1000?? And it was in Good shape! Crooks and liars that are begging to be sued!

You are given the choice to surrender a unit before it is repo. The process is the same goes to auction and sold the balance you have to pay. If you surrender the unit you don't get the fees added for looking for your unit could be as much as $ 5,000. Always remember the bank does not pay the repo fees you do they just pick the company that willing to take the job. After a time period the bank will assign someone else so so until the unit is recoverd or charge off. In any case more fees are added. Best solution can not pay give up the unit and buy yourself another before it hits you credit report.

I am 3 moths behind on my car note that's finance by Chase. I call Chase on Monday to make arrangement to pay for the 3 months I am behind on Thursday. Chase told me if I could not pay the entire balance of $16,000.00 by that Friday I had to give my car up on Tuesday(the next day after I talked to them) and sign a voluntary agreement. But I didn't want to give my car back especially when I was going to have the money three days later. I had my car for 3 years and a few months. So what do you call this? This is surely not fair but I know that GOD will fight my battles.

I was 2 months behind I sent them my june pymt so i would not go to 3 months late and told them i would make the other 2 payments by the 15th of june the person i spoke with said okay now i have a diffrent person calling me saying no and they are coming to pick up our truck.

Im not with chase but I have in house financing loan. After a reposession can a private dealer charge you more than whats due and conviently change the amount when you tell them you have the money. I missed 1 payment of $300 my balance on the car is lclose to $4000. When I called to get the car back he purposely did not answer the phone until I blocked my number then he 1st told me $1260 when I challenged the amount and told him that cant be the minimum he then advised $706, my payment and $400 for the repo. When I told him I was going to bring it that same day he didnt answer anymore. I had to block my number again and I talked to him he said I put to many miles on the car and theres a scratch on the side and to protect his assets bring him $2000 becase I didnt call and tell him I scratch the side on the car. Major part of my job is driving to clients in and out of town which he knows and when I told him that I didnt think I had to tell him as long as It was going to be taken care of he said that I was. Is this fair what are my legal rights?

Chase took over a year to transfer the VIN and Title from the Jeep that they Repossessed in 2009. The loan was for $7200 and Chase wouldnt work with us..Last January 2010 a bill from Chase collection agency came out for $6500 and they took the Jeep! The VP of Chase admitted that Jeep was sold for $4900 (Thousands under the Blue Book Value) Now a letter for their Lawyer is seeking $7200 and still No Documents of the Sale and Auction were sent. We couldnt even save the Jeep! The VP of Chase Auto stated that the Jeep was damaged in the frame and had 8000 more miles then when it was repoed..also was missing for 2 months from the time it or Just the VIN went to auction! Enough is Enough the Tag is still missing and getting tickets! Time to file a class action lawsuit!

my vehicle was just repo'd from the driveway. I don't even have a payment due for another week, and I havent had the car a month..... what can i do to either get my car or the 1500.00 in cash i put down on it back

Quote:

Please contact me for any class action against Chase Auto....I would love to get involved. [email]mybradoc@yahoo.com[/email] I am seeking legal counsel as we speak to sue the crap out of them. With their tactics, its impossible to ever get your title.

Same thing just happened to me. Lost my job, collecting unemployment, trying to find work.. Soooo-

I knew I was 2 months behind in payments, I called Chase to make payment arrangements and to find out how much I was past due. The rep told me that I was only past due one payment. I told him that I was more like 2 payments past due and he said that what he saw on his computer was that I was only past due one month. So I made arrangments JUST THIS LAST THURSDAY to go in on Dec. 4th and make a payment. He said this would be fine and to make sure I follow through with the arrangment. So I'm watching football and get a knock on the door NOT EVEN AN HOUR AGO, and it's the repo man coming to take my truck away. I told him I made arrangments just a few days ago, and he told me he hears this ALL THE TIME from Chase customers and told me that the reason Chase LIES is that they are afraid you are going to hide the car if they tell you they are going to repo it. THIS IS SO EFFED UP! If they were honest with me and told me they were going to repo is if I didn't pay a certain amount, I would have borrowed the money from my Dad! Now I have no job, no truck, and no food in the cupboards.. LORD HELP ME

i would like to post a comment on this page due to the fact that recently my 2002 ford mustang was repo by 45 days late. i had called the company and they wouldn't even tell me where the car was to get my belongings out of the car. i have had the car for 3 years and did alot of work to it minor but it was mine never the less CHASE AUTO FINANCE SUCKS. i have talked to ADAM & JESSE and they will not help you out for nothing all they care about is themselves. i feel for the people in this room. the do not work with there clients at all , i just read the one about the truck i feel for you really i do. they want me to pay the car off 6 thousand dollars which i do not have. i just want my car back. they didn't even notify me at all not by mail nor by phone. they just SUCK BIG TIME!!!!

they repo my car after 45 days late, they suck and what can i do to get my car back?:(

hey there i feel for you there, chase took my car and they didnt even notify me at all. they want 6 thousand dollars in which i do not have. i want my dam car back.:)

I am currently 40 days behind on my payments (including Dec's due the 15th of this month.) I too have been laid off and just run behind trying to keep up with everything. I have arrangements made with Chase to pay two car payments by the 24th "or they're coming Monday morning to take my vehicle" (per the acct mgr I set up these arrangements with.) I'm just wondering if anyone in here (which I feel for all of you because I know your pains myself!) has been in this situation and actually had Chase KEEP their word about not repo'ing the vehicle. I'm just worried that every sound I hear outside my house from now on is a repo truck coming for my car!

i would like to respond to your ad. i have had problems in the past with CHASE and i did get one time from JESSE to tell me how to make a payment for my car. i do believe that they are in it for the money and don't care who they hurt in the long run. they will tell you one thing and then do another right now i'm in the process in getting my stuff back before the lenders throw it out even the license plates.i will not pay 60 dollars for my belongings that were in the car if they do so i will report my stuff stolen and sue them for doing so. CHASE REPO my car i had a ford 2002 mustang for 3 yrs and i was only 45 days late and they did NOT NOTIFY me at all.so i feel for you we are all in the same boat with them and it SUCKS. they need to be reported to the better business bureau asap i think and shut them down with lots of complaints. i'll do it . i hope someone will as well. there is a site they have and leave them a e~mail i'm going to and i did to. hope all is well with you.:D

well they didnt for me they just came and repoed my car the bastards. i hate them

i was only 45 days late not 60 or a month 45 days and hey repo my car, what can i do to get it back, i have the keys still to my car my baby. i miis my mustang 2002 ford yellow and black. i need a answer

I have 2 payments due right now and I dont have any idea how I'm going to pay it. The monthly payments became too much after my job cut hours and no pay increase for 3 years. Instead my rent, light, car insurance and everything else has gone up, up, UP! I need to reduce my monthly payments, so I wrote to them about refinancing.

Since I don't deal with customer rep hacks, I go straight to the source.

The CEO for Chase Auto Finance and Student Loans is Marc Sheinbaum. He is outta Garden City, NY.
I found this website with contact information on all the CEO for all the departments at Chase.

consumerist[dot]com/2008/05/contact-information-for-chase-ceos.html

As far as I could tell, it is all good information. Write to them directly, plead your case and take it out of the hands of the customer reps who just follow instructions like lemmings. Since I don't keep my vehicle where live, they might have a hard time finding it. At any rate, I don't want to repo, I just want to be able to afford to pay it off. And with no more income coming into my home, I can only reduce my payments to keep my car.

That's the LEAST these banks can do since they were the ones who go the bailouts, not the American People.

Active link removed as per ToS - Jason

Even though chase makes billions,they are not interested in obeying state laws .It seems as though they are very ignorant about the laws where the car owners reside.They are creating very bad busines in each state where vehicles are being repoed.They hire people who are making money to take advantage without a heart to care about how the economy is in one's pocket.Chase is crazy.I hope that there is not another bank such as this one taking advantage of owners rights any where else.I would most definitly sue too..

I unfortunately also have a loan with chase auto finance. so sorry I ever signed the papers. I have been 30 days once and now they call me 3 days before the payment is even due. they are horrible to deal with. I have been in contact with them a few times regarding my 15 day late payment. they have 2 numbers to reach me and they called my mother today for some reason. i am about ready to tell them to shove this car. NEVER DEAL WITH CHASE!!!!!!

I just checked my auto balance on their website, 2 months ago I had 4072.00 left to pay, I just looked today (made payments on time since) and says I owe 4601.00 WTF chase bank needs to die

pay your car payment on time or dont own a car. Yes things come up but we need to swallow our pride to do what is necessary to stll pay these "secured loans" timely.. dont go get a bad auto loan when you have a "un secured job" self employed contractors and realtors...ya im talking to you

Always refreshing to hear a ratioanl answer.