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I filed for bankruptcy in the beginning of the year and I didn’t add my car to it because I know I could make the payments but I stopped receiving statements for my car and the bank didn’t send me anything stating whether I had to pay or get the car repossessed. I even called and asked about it and they couldn’t give me a straight answer. It’s been months now without any notification of anything and they just came to repossess my car. Is it right or legal for them to do that?

5 Comments »

1. 

   Sure. You haven’t been paying on it. You knew where to send the payments, but you evidently elected to stop sending them.

   Comment by Scott H — August 18, 2010 @ 1:49 pm

2. 

   yes as they are half the owner of the car they have the same rights to it. plus you know you havent paid so in court they can say you were fully aware you werent paying

   Comment by Ryan — August 18, 2010 @ 1:49 pm

3. 

   Yes they can just like they did with your car. Bottom line is when you have a loan on a vehicle and you don’t make the payments as required each month they will have the vehicle repossessed. Anytime you have a situation like this you should always call the loan company and advise them of what is going on and try to work something out with them. They don’t want to go through the process of doing a repossession because it will cost them money to do so. They will almost always work with you to try and keep you in your vehicle if at all possible. However, there does come a point where they have to do a repossession as in your case. You ask if they can repossess the car without notification. Did you notify them that you wasn’t going to make the payments you were suppose to make? It’s pretty much the same with utility bills. If you don’t pay your electric, water, gas, sewer, trash bills, what happens? They turn off your utility’s. After all, the vehicle is actually theirs until you pay the loan in full. Something else you should know if you already don’t, when they sell the vehicle to get their money back and the vehicle doesn’t sell for enough to cover what is owed on the loan guess who will be liable for whatever is left over to cover the loan in full? As an example, the payoff on the loan is $10, 000.00 and they sell the car for only $7000.00. This leaves a total of $3000.00. They will most likely come after you to pay the $3000.00 to finish the loan amount.

   Comment by fortyniner — August 18, 2010 @ 1:49 pm

4. 

   yes it can and it will so be care full

   Comment by Sam — August 18, 2010 @ 1:49 pm

5. 

   Sort of.

   They DO have to mail you notice that if you don’t get your account caught up to date within 30 days they will reposess the car. But if you moved and didn’t give them the new address, or if you flat out "didn’t get the letter", that’s your problem. They don’t need to PROVE that you RECEIVED the letter – only that they mailed it to the last address they had on file for you.

   Clearly, as you stopped receiving statements, you have a mail issue.

   Comment by mbrcatz — August 18, 2010 @ 1:49 pm

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