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Buy Here Pay Here Repo HELP!


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My daughter's car was repoed last night. She lives in AK but bought in MS at one of the buy here pay here places. I have never had to deal with repoes before....

 

She pays by the week and did not pay last week her $75 payment. This si the first payment she is late on. No one called her or anything. Is she covered by the normal repo laws? Her contract was in the car so she has no paperwork for me to deal with.

 

At this point she is not even sure it is a repo because they are closed and no one called the police informing them of a repo. AND she can not report the car stolen until she gets vin and tag #'s.

 

She moved to AK last week from MS and did not notify them.... she is not sure how they found her.... and of course don't tell MOM until the crises hits.... GRRRRRR!

 

Thanks for any help!

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Sorry, Not Alaska but Arkansas.... I negver to write to either so don't forgot their abbreviations..

 

She is calling them in the morning.....

 

I wonder if they ahve to follow normal repo laws and such - both states have 10 days for redemption.... whatever that means....

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Not stolen. Her sister went to the car lot and found it... she did manage to retrieve all the paperwork along with all the belongings. I could not believe that the car was sitting on the lot! Anyway I am waiting for her to fax me over the contract.

 

It seems that the contract states that she can redeem but I am confused if she has to pay the car off or just catch up the payment plus cost. There is nothing about moving out of state.

 

I also need to know what exactly they have to provide to her about the fees and such and by what date after repo.

Edited by ladyran
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Update:

 

DD called this morning and they told her the only person to talk to is gone til maybe Friday or next week. I tried to faxed to them a note asking for information as a paper trail but their fax machine is not working so popped it in the mail.

 

The UCC and state laws are confusing to me. They all state a right of redemption... both states say 10 days. What happens when no one is available for most or all of those days preventing you from redeeming?

 

I found the notification of disposition 9-612(:lol: and 9-613(1) and 9-614 1©.

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I have the contract and it is one page typed up. It is not even a generic contract.

 

Here it is:

 

I hereby agree that in the event that I fail to make any payment or any part of any payment on my loan from you, regarding the vehicle mentioned above, you are authorized by me and have a right to take said automobile back from me, without the necessity of a court order or any judicial process. I futher agree that if it becomes necessary for you to take said automobile back, you are permitted to do so at any time of the day or night and may enter and remove said car from my property or any other property where I may leave said car.

 

I also give you permission to use say reasonable means to open and gain entry into said car without causing any undo damage in the process of taking it back.

 

I understand that should it become necessary for you to take back said car and I redeem same by making full payment to you, this payment will include any of your costs for taking back the car.

 

I agree that I will not keep any personal property of great value in said automobile during the term of this loan, but in the event I do, I assume any and all responsibility for any personal property left in the car by me or by other persona, should that property be lost or missing for any reason from said car after it has been taken back by you and stored in a reasonably safe place.

 

I agree that you are not required to give me any notice before you take back said car, and that my failure to make any payments on time according to my loan contract, will be my notice that you have the right to take back the automobile.

 

I understand that I have the right to have this agreement examined by my attorney if I desire, before I sign it.

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My daughter's car was repoed last night. She lives in AK but bought in MS at one of the buy here pay here places. I have never had to deal with repoes before....

 

She pays by the week and did not pay last week her $75 payment. This si the first payment she is late on. No one called her or anything. Is she covered by the normal repo laws? Her contract was in the car so she has no paperwork for me to deal with.

 

At this point she is not even sure it is a repo because they are closed and no one called the police informing them of a repo. AND she can not report the car stolen until she gets vin and tag #'s.

 

She moved to AK last week from MS and did not notify them.... she is not sure how they found her.... and of course don't tell MOM until the crises hits.... GRRRRRR!

 

Thanks for any help!

 

 

 

Would be willing to bet they put a GPS unit on it. So they could come grab it as soon as she would miss a payment.

Edited by drew3918
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Good luck with this. This is how many of those places make their money. YOu miss one weeks payment, they take it back and sell it again.

 

 

Yes. Or you can pay the $300 or so "repo fees" and catch up on the payments to keep it.

You can't give them an excuse to repo, they'll do it 5 minutes after a missed payment. It's just more profit for them.

 

Some of them install ignition disabling devices that won't allow the car to start unless a code is entered after each payment. They also have homing devices as an option that'll direct them right to the disabled car with their tow truck. It's just part of the BHPH business model.

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I have the contract and it is one page typed up. It is not even a generic contract.

 

Here it is:

 

I hereby agree that in the event that I fail to make any payment or any part of any payment on my loan from you, regarding the vehicle mentioned above, you are authorized by me and have a right to take said automobile back from me, without the necessity of a court order or any judicial process. I futher agree that if it becomes necessary for you to take said automobile back, you are permitted to do so at any time of the day or night and may enter and remove said car from my property or any other property where I may leave said car.

 

I also give you permission to use say reasonable means to open and gain entry into said car without causing any undo damage in the process of taking it back.

 

I understand that should it become necessary for you to take back said car and I redeem same by making full payment to you, this payment will include any of your costs for taking back the car.

 

I agree that I will not keep any personal property of great value in said automobile during the term of this loan, but in the event I do, I assume any and all responsibility for any personal property left in the car by me or by other persona, should that property be lost or missing for any reason from said car after it has been taken back by you and stored in a reasonably safe place.

I agree that you are not required to give me any notice before you take back said car, and that my failure to make any payments on time according to my loan contract, will be my notice that you have the right to take back the automobile.

 

I understand that I have the right to have this agreement examined by my attorney if I desire, before I sign it.

 

It's like they're expecting the car to get repo'd. Well wishes to both you and your daughter.

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They found her all the way in Alaska that quickly? Wow! I'm curious, where did they bring the car to? All the way back to MS from Alaska? That's a pretty long haul.

 

Yes i know it was not Alaska but most likely a GPS tracking device on the car. Probley in the fine print on the contract.

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I am just livid with her over this....

 

I am also thinking that they had a GPS on the car - but when she moved she told all of her neighbors where she was moving too and the kids in the neighborhood also know so she would not have been hard to find. She got careless and lazy and now has to live with her bad judgment.

 

I have been building back her records with what her sister got out of the car. Her payments were due every Friday and she should have made 10 payments. We have receipts for 6, including ones dated 12/3, 12/10 and 12/17 which I believe to be for the Fridays before each. Nowhere does it state she is late on any payments. She admits to not making the Friday Dec 21 and Friday Dec 28 and they repoed on Sunday Dec 30.

 

I think she gave up her default notice and right to cure before repo but not sure if she will be able to just pay to catch up and the fees or if she will have to pay in full. Paying in full is out of the question.

 

This will not be reported on her credit report..... but her report is a mess anyway....

 

While no excuse she has been under an enormous amount of pressure - her hubby ran off back this summer and let the mortgage lapse putting the house in foreclosure which she found out about in Sept. Then he took her car after wrecking his at the end of Sept leaving her to have to buy this in a hurry. Then a truck ran into her house on Dec 16, making it unlivable so she had to find a place and move in hurry. I am getting the run around on the homeowners insurance since it was in her x's name and he told them he was not living in the house. She was planning on this move to AR but not this soon. She tried to find affordable housing on the coast but after Katrina there is none....

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I'm sorry about your bad experience,

I just want to suggest you buy something

to record your phone calls. It's as good

as video in any court of law.

 

In Texas anyway, " one of the two must know

it's being recorded to be legal."

 

* either radio shack or online somewhere, mine records

directly into a dedicated computer in the other room.

 

:mellow:

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