Question about Repo.

[laurenleigh]

The finance company repo'd my fiance's car back in November or so of last year. In Maryland, the creditor is required to send a letter 5 days after the repossesion saying how much you owe and how much you have to pay to get it back. They are supposed to send it by certified mail. He recived nothing. They never sent anything about selling the car which they are again supposed to send by CM before they put the car up for sell and again after it is sold saying how much it was sold for. They want him to pay the full amount of the loan. They threatened to file suit and garnish his wages but they haven't. Since they didn't do what they were supposed to, does he have to pay? It is on his credit report so what should he do?

[Austin99]

Was the car repoed from your home address?

[Frisbee]

Three repo threads w/i an hour....anybody still got their car?

 

Anyway, looks like you've done some research...good. I'm running late, can't confirm your research right now. Bump this thread until I catch it again, either late tonight or tomorrow.

 

PS: IF your research is right....off hand, I don't think you owe any money....sit tight.

[laurenleigh]

Was the car repoed from your home address?

 

The car was repo'd from my mother's house because the engine died and that was the closest place to get it towed to. We were never hiding it though, we told them where it was.

 

 

 

Three repo threads w/i an hour....anybody still got their car?

 

Anyway, looks like you've done some research...good. I'm running late, can't confirm your research right now. Bump this thread until I catch it again, either late tonight or tomorrow.

 

PS: IF your research is right....off hand, I don't think you owe any money....sit tight.

 

I was thinking the same thing about everyone getting their car repo'd. I hope you're right about not owing money. The car was a piece of crap and the engine died 3 months after we got it (right after the warranty was up...how convenient ).

[Frisbee]

still too busy. check out www.whychat.5u.com

also: www. lawdog.com

 

I'll help later, promise

[Austin99]

The majority of the time they will send the letter to the address the car was recovered from. You might want to call your mom and see if they have tried to send something certified.

[Frisbee]

lender must contact debtor at address lendor has on record for the loan.

[laurenleigh]

The majority of the time they will send the letter to the address the car was recovered from. You might want to call your mom and see if they have tried to send something certified.

<{POST_SNAPBACK}>

 

 

She definately would have let me know if they tried to send something.

[laurenleigh]

Bumping for Frisbee

[laurenleigh]

Again with the bumping. Lotsa activity today.

[Frisbee]

Sorry to keep you waiting. Do you have a link that you got your info from. My usual links are not operating.

 

In Maryland, the creditor is required to send a letter 5 days after the repossesion saying how much you owe and how much you have to pay to get it back. They are supposed to send it by certified mail.

 

Ok, w/o my links (darn computer) this looks like "typical" UCC stuff. However, as far as I know, Maryland does not require CMRRR notification. Hopefully, I'm wrong and you can show me where you found that, so I can update my info. This part of the repo would be the "notification of sale". This is a very important step and if they missed this....already ballgame is over for them...nothing owed.

The notification, by law, had to include:

type of sale ie. public or private

date of sale

location of sale

phone number of reach person or bank or whatever (gives you last ditch effort to save car...they usually screw this part up....judges don't like that!

 

You may have also been entitled to a letter to "cure the default". Most states have that..again, can't check. This letter would have told you: we got your car, it's not too late for you to get it back, send xxx by xxx.

 

They never sent anything about selling the car which they are again supposed to send by CM before they put the car up for sell and again after it is sold saying how much it was sold for

 

Ok, this is the final notice you had to receive. It is the deficiency balance letter. Most of this time it never comes. Usually, you will just get a bill and that is not good enough.

 

So, that's how your repo should have been done. If ANY steps were missing, you actually have recourse AGAINST them. If you can't make them stop, you can hire a lawyer and his fees will also be paid by them.

 

You say they threatened to file suit....they probably will. Who exactly are "they"? Is it the OC or a CA? I'm assuming OC. If that is the case, expect legal action soon. If the answer is CA, have you received any notices in the mail from them? (very important)

 

So, that's what I can tell you w/o benefit of research...in other words, "general info". If you send a link I'll confirm. Do not talk to them. Watch the mail for notices.

[laurenleigh]

Thanks Frisbee, here's the link:

 

http://www.dllr.state.md.us/finance/repossession.htm

 

"They" would be the OC. It was an auction and the car was financed through their company.

[Frisbee]

What a great link, my thanks. They have put into plain language what the UCC spends pages and pages on. Very nice. I think I'll see if I can have it moved to MD consumer pages for you.

 

Anyway back to the case at hand. I figured it was the OC. Here's the story, and it's an old one. Only very recent debts are considered debts that might at least pay something. The OC will have to CO your d/b after 180. They are going to push the envelope to get you to pay them NOW.

 

Just so you and I are on the same page:

1.The loan had to have been a consumer loan (were there cosigners?) and not a business loan or lease.

 

2.You did NOT sign anything during the repo process.

 

3.You received no notices at all.

 

You have an angry OC here. They may be willing to sue.

 

They want him to pay the full amount of the loan. They threatened to file suit and garnish his wages but they haven't. Since they didn't do what they were supposed to, does he have to pay? It is on his credit report so what should he do?

 

Where is this coming from? Are they calling or writing? When was first contact in writing, what did you do about it? When is the last contact?

 

This is not easy because you are SOL with an OC that hasn't CO. Having me agree that the repo was not done "legally" and getting a judge to totally agree is a different animal. I need to have a time frame (above quesitons). Also, how much do they claim is the d/b

 

Have you pulled your carfax. You need the VIN# and about $15.00. In this case I think you better pull it, again because it's so recent. Find out where and when the car sold. I don't feel too happy about this right now and you should get all the ammo you can to defend this. Not trying to bring you down, but you probably know that too. Let me hear back from you and I'll try to help.

[Frisbee]

I knew I'd find some hope:

 

Repossession Disputes

 

The Commissioner of Financial Regulation enforces Maryland repossession laws. If you are a Maryland resident and believe that your rights have been violated, you may file a written complaint with the Commissioner. All repossession complaints are investigated to determine compliance with applicable State laws.

 

For complaints contact:

 

The Commissioner of Financial Regulation

500 North Calvert Street, Suite 402

Baltimore, Maryland 21202-2272

(410) 230-6100 or 1-888-784-0136

www.dllr.state.md.us/finance

 

Ok, answer the questions I already asked and we'll put a plan together. I think I love Maryland!

[Frisbee]

Commissioner of Financial Regulation

 

File a Complaint

 

 

A Maryland resident may file a complaint simply by writing a letter. Send your letter to:

 

Commissioner of Financial Regulation

Attention Complaint Unit

500 North Calvert Street, Suite 402

Baltimore, Maryland 21202

 

Attach copies of any supporting documents to assist in the complaint investigation. Typically, complaints are resolved within 45 days.

 

To ensure your concerns are fully addressed:

 

Limit your complaint to one page.

State only the facts.

Include your account number, the respondent or your own name and address and your daytime phone number.

Indicate an acceptable resolution for your complaint.

 

I do love Maryland! This has opened my mind to all new possibilites.

[laurenleigh]

I'm sorry, the repo happened in August 2004. I know that's a big difference in dates:blush:.

 

1.The loan had to have been a consumer loan (were there cosigners?) and not a business loan or lease. Yes it was a consumer loan and there were no cosigners

 

2.You did NOT sign anything during the repo process. NO

 

3.You received no notices at all. NO

 

You have an angry OC here. They may be willing to sue.

 

 

Where is this coming from? Are they calling or writing? When was first contact in writing, what did you do about it? When is the last contact? The first and last contact was around October. They called, threatened to garnish his wages, and scared him into giving them about $700 within a two week time frame from when they called. He didn't pay anything after that but they never called back and his wages haven't been garnished.

 

This is not easy because you are SOL with an OC that hasn't CO. Having me agree that the repo was not done "legally" and getting a judge to totally agree is a different animal. I need to have a time frame (above quesitons). Also, how much do they claim is the d/b. They are claiming $4,500.

 

Have you pulled your carfax. You need the VIN# and about $15.00. In this case I think you better pull it, again because it's so recent. Find out where and when the car sold. I don't feel too happy about this right now and you should get all the ammo you can to defend this. Not trying to bring you down, but you probably know that too. Let me hear back from you and I'll try to help.

I did pull the Carfax and this is the relevant info:

 

10/20/2004

Maryland

Motor Vehicle Dept.

Title #35XXXXXX

Title issued or updated

New owner reported

 

 

11/06/2004

Dealer Inventory

Virginia

Vehicle offered for sale

Edited March 9, 2005 by laurenleigh

[Frisbee]

Lauren, go edit out anything in previous carfax post that could help some troll identify you...please do this now

[laurenleigh]

Yeah, thanks, I'm doing 3 things at once and I wasn't thinking.

[Frisbee]

Did this car sell MORE then 60 days past the repo date? (date they got car back)

[Frisbee]

Ok, August does change this a bit. The OC should have charged this off in February. Do you have a current credit report. The trade line should now be:

OC and chargeoff (bad debt or repossession). There may still be a dollar amount. If there is a dollar amount showing that means the OC still has the account. When they sell it or assign it the t/l should reflect OC CO with zero balance.

 

IF they are not hounding your fiance right now, what is the urgency here? Does he need credit, mortgage, job? Is it possible to let sleeping dogs lie? What I would prefer is to let this age and wait for a stupid CA to try to collect...but that's just me.

 

However, thanks to your link, that opens the door to disputing with the state of Maryland. I like that idea, but don't know how effective it would be.

 

Would your fiance consider settling this? You are in the right here, but if you want this to end now, understand there is no quick fix. Let me know your thoughts.

[laurenleigh]

Ok, August does change this a bit. The OC should have charged this off in February. Do you have a current credit report. The trade line should now be:

OC and chargeoff (bad debt or repossession). There may still be a dollar amount. If there is a dollar amount showing that means the OC still has the account. When they sell it or assign it the t/l should reflect OC CO with zero balance. No, it has not been charged off.  I just got a report today and it's still showing a balance.

 

IF they are not hounding your fiance right now, what is the urgency here? Does he need credit, mortgage, job? Is it possible to let sleeping dogs lie? What I would prefer is to let this age and wait for a stupid CA to try to collect...but that's just me.  There is no real need to have it done now but we do want to buy a house in the next couple of years.  Also, since I was fixing our credit, I figured this one should be included. However, I see your point about letting sleeping dogs lie.

 

However, thanks to your link, that opens the door to disputing with the state of Maryland. I like that idea, but don't know how effective it would be.

 

Would your fiance consider settling this? You are in the right here, but if you want this to end now, understand there is no quick fix. Let me know your thoughts. He would rather not settle if he doesn't have to.  If there is a way out, we would like to try it.  What happens if they do try to file suit? Since we didn't get any paperwork, do they even have a valid claim?

<{POST_SNAPBACK}>

[Frisbee]

He would rather not settle if he doesn't have to.  If there is a way out, we would like to try it.  What happens if they do try to file suit? Since we didn't get any paperwork, do they even have a valid claim?

 

I feel they will sue...just my feeling, no reason for you to get into a fetal position. That's why I'm kind of gun shy with this. If they do sue, you would have to defend yourself. Probably better to make them be the ones defending their position before it goes to a lawsuit.

 

Ok, back to basics, and by the way, you are doing an excellent job here and I really appreciate it, saves lots of time.

 

1. repo car in Aug. 2004 and no notices ever. By the way, the address the lender had to contact the debtor was accurate, please tell me so, please!

 

2. first contact was Oct. 2004, it was phone call asking for d/b and claimed d/b was $4,500. made threats about lawsuit and garnishment if not paid.

 

3. that led to (was it over the phone check) payment of $700.00. What was the mutual understanding about this $700.00. Would they send a confirmaiton letter with a new balance? Was he to continue with payments every month? Why $700.00? Did they offer a reduced settlement?

 

4. back to the carfax question, was the car sold after 60 days had passed from the day of repo? Don't kill yourself over this, just looking for more ammo.

 

5. today's CR...does it reflect the difference between the original d/b and the payment he made AND does he have proof of that $700.00 payment...and by the way...don't make anymore payments unless you are settling.

 

Here's what I think. Maryland has a device in place for resolution of defective repossessions, which this one is....according to the info supplied. IF Maryland's Commissioner of Financial Resolution does his job (and that's the unknown) not only will this "go away" but you could actually have a claim against the OC. Sooner or later you will have to address this. I don't like the t/l not being CO. I think that's a bad sign. Could be they are holding it, waiting for more money...just don't know.

 

What I do in a bad situation (and this could be one) is look for the absolute worst downside. In this case that would be:

1. credit report reflects repo for entire 7 years, but age will help.

2. the OC gets the ENTIRE amount they want.

 

IF anything less then those two things are acceptable, I think I'd write a reallly good complaint to the Commissioner of Financial Regulation. The instructions ask you what your goal is...to me it's "stop all possible collection actions by the OC, including selling or assigning rights AND a total deletion of the trade line. IF this works, since you aren't asking for damages, they might jump at it. One time only to get the complaint right....keep it all business.

[laurenleigh]

I think you are my new best-CB-friend.

 

He would rather not settle if he doesn't have to.  If there is a way out, we would like to try it.  What happens if they do try to file suit? Since we didn't get any paperwork, do they even have a valid claim?

 

I feel they will sue...just my feeling, no reason for you to get into a fetal position. That's why I'm kind of gun shy with this. If they do sue, you would have to defend yourself. Probably better to make them be the ones defending their position before it goes to a lawsuit.

 

Ok, back to basics, and by the way, you are doing an excellent job here and I really appreciate it, saves lots of time.

 

1. repo car in Aug. 2004 and no notices ever. None, never ever ever. By the way, the address the lender had to contact the debtor was accurate, please tell me so, please! Yes it was correct. They sent his car note to the same address and it is the same company.

 

2. first contact was Oct. 2004, it was phone call asking for d/b and claimed d/b was $4,500. made threats about lawsuit and garnishment if not paid.No, sorry. They claimed the d/b was around $5000 and said they would suit and garnish unless he paid $500 right then, which he did.

 

3. that led to (was it over the phone check)I believe so payment of $700.00. He paid the $500 right then and then $200 a week or two later. What was the mutual understanding about this $700.00. Would they send a confirmaiton letter with a new balance? No. Was he to continue with payments every month? He was to pay every week if he could. He said he would send $200 when he could until the debt was paid off. Why $700.00? Did they offer a reduced settlement? No.

 

4. back to the carfax question, was the car sold after 60 days had passed from the day of repo? Don't kill yourself over this, just looking for more ammo. The Carfax said the title was transfered to a new owner in October. But I believe it was transfered to another auction in the area because of the city the new owner is in. I'm not sure if the autions are run by the same people or not. It was titled in MD in October. Then in November,it says "Dealer Inventory" and "Vehicle offered for Sale" but it is in Virginia. It would have been a little after 60 days from the day of repo (but it's cutting pretty close).

5. today's CR...does it reflect the difference between the original d/b and the payment he made Yes AND does he have proof of that $700.00 payment I don't think so, he doesn't keep very good records (I'm the record keeper in the house) ...and by the way...don't make anymore payments unless you are settling. No Sir, no other payments have been or will be made.

 

Here's what I think. Maryland has a device in place for resolution of defective repossessions, which this one is....according to the info supplied. IF Maryland's Commissioner of Financial Resolution does his job (and that's the unknown) not only will this "go away" but you could actually have a claim against the OC. Sooner or later you will have to address this. I don't like the t/l not being CO. I think that's a bad sign. Could be they are holding it, waiting for more money...just don't know.

 

What I do in a bad situation (and this could be one) is look for the absolute worst downside. In this case that would be:

1. credit report reflects repo for entire 7 years, but age will help.

2. the OC gets the ENTIRE amount they want.

 

IF anything less then those two things are acceptable, I think I'd write a reallly good complaint to the Commissioner of Financial Regulation. The instructions ask you what your goal is...to me it's "stop all possible collection actions by the OC, including selling or assigning rights AND a total deletion of the trade line. IF this works, since you aren't asking for damages, they might jump at it. One time only to get the complaint right....keep it all business. I like your ideas. I think I will start on that letter. I'll keep you updated.

<{POST_SNAPBACK}>

Edited March 9, 2005 by laurenleigh

[Frisbee]

The Carfax said the title was transfered to a new owner in October. But I believe it was transfered to another auction in the area because of the city the new owner is in. I'm not sure if the autions are run by the same people or not. It was titled in MD in October. Then in November,it says "Dealer Inventory" and "Vehicle offered for Sale" but it is in Virginia. It would have been a little after 60 days from the day of repo (but it's cutting pretty close).

 

Boy does that sound familiar!!! I've been trying to track down this crap for over 2 years. IF I can get this figured out, somebody is going to pay!!!

 

I like that you think of me as a friend....hope when this is all over, you feel the same.

 

Last thought: I'd only say in the complaint that they never notified me in writing. That avoids the entire phone/payment thing. IF it comes up later, you could address it.

 

Also remember that you are the "unsopisicated consumer" and just keep the complaint simple, factual and businesslike. Best of luck.

[Frisbee]

Congrats Laurenleigh, I am pretty sure your contribution of the above link is going to post permanently on the Maryland consumer pages. Nice job.