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Recommendations for Repo with Santander

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I am so glad to have found this forum! There is so much more information here than another forum I have been on. I am still sifting through it all.

 

My dh and I have a repo on our reports from 2009. When does the DoFD begin? Date of first default, repo, or sale of vehicle? I have heard so many variations.

 

The loan was with Citifinancial. My dh had called and paid to bring the account current. He was told at that time the repo would be cancelled. However, car was taken during the night several days later. He had talked to them but wouldn't redeem. Wanted full amount paid plus new fees.

 

Anyways, all said and done. When I pulled CR last month I learned account had been sold to Santander. We don't recall ever receiving any info on sale of vehicle. Balance on CR shows "0".

 

I sent them a DV letter June 29 invoking FDCPA before I realized I should have used TFC instead. I haven't heard anything back yet. Once the 30 days are up should I just send a new letter under TFC? I have read WhyChats instructions for CA but don't think this falls under that. We have not been good about keeping records and don't have the VIN# either. BTW, we live in Texas! :)

 

Any advise is much appreciated.

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Santander is EVIL. There are several class action firms looking for clients. The problem you may have is your loan was sold to them after the repo so they merely bought the deficiency balance if there is one.

 

You can google for the firms looking to sue them. They do not respond to goodwill or validation letters. I had a loan in PERFECT payment history with my lender who sold it to them. They proceeded to record late payments because "they had a delay in processing" despite my protests that their problem was not my credit problem. I actually paid my loan off a year early to be rid of them. They had the nerve to send me an email recently asking me to "come back" because they missed me!

 

Beyond that i don't know what to tell you because they play by their own rules.

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The SOL begins to run on the date the repo was sold which created the deficiency.

You can probably find the VIN# either through the DMV or through the insurance company that you used to cover the vehicle.

 

You might read the info in the following link:

http://whychat.5u.com/repoltr.html

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Why Chat's section on repos and deficiency balances should help a lot . The SOL for this one is 2 yrs after the sale of the repo, assuming all the laws were properly followed.

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Thanks CHI. I called old insurance company. They don't have VIN. DMV had me on hold for forever!!! I sent them an online email.

 

Breeze, This would still work though Santander isn't a CA? CitiFinancial was the OC but they sold it to Santander in their portfolio. At least I don't believe they are considered a CA. Santander bought old and current loans in portfolio as I understand. Also, TL lists balance as $0. It seems WhyChat's letter is a dispute of the deficiency balance. We don't recall ever receiving any info on the sale of the car nor a deficiency balance. But can't be 100% sure on that.

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