Legal Question in Credit and Debt Law in California
I had bought an 5wheel home about two and half year ago for $24000. I been making payment on time never late for those two and half year. The bank which i made my payment to never once in the two year and half i paid send me a receipt saying what my new balance was. Now that i called the bank up they state that my principle balance is $28000. It make no sense since my contract state it was $24000. Another think is that when this contract was written up I had purchase a $4000 insurance. Which i did cancel before the first 90 day of the contract. I got paper back saying they were cancel which should have lower those $24000 to $20000. All this so far just has to do whith the bank. On This second part im not to sure, but the RV center i bought my 5 wheel home i was deceive, I was not giving the interest rate promise even though i have perfect credit over thirty year.Never been default an anything i own or any credit card. During the contract being creating this guy was telling me one think while another was being written, I could not read the contract for the fact that im only a spanish speaking, and was never given a spanish contract i could understand. One more think about the bank, when i called and was told that the principle was $28000, I told them i did not want it anymore, Two day later the bank come and haul it away even before any payment went into default. Till then all payment were made in time, Trailer was pick up day after the next payment was do. Is there anything i can do, Bank call me up saying I still have to pay the payment, or being sent to bad credit. By the way this is my father concern im his son but like stated earlyier he speak and write only in spanish.
1 Answer from Attorneys
You have several issues you are going to need to deal with. First, as for the bank and the loan balance, you need to send a letter to the bank advising them that you dispute the loan balance, and insisting that they provide you with an accounting of all payments made, and all charges to the account. The only way you can resolve the loan balance is to see what they have credited you for, and compare it to your records in terms of what payments you made. You may find that many payments were not credited to your account, or that they added fees and costs either under the contract, or perhaps without the right to do so under the contract. In short, you'll need to review the contract, the payment and charges history and reconcile whether or not they treated you properly, or if they have failed to comply with the terms of the loan.
Further, you should review the contract and everything you signed with an attorney who specializes in consumer finance contracts. The fact that you read only spanish may not be a defense - I believe in California you are required to have the contract interpreted for you - I do not believe that the lender must provide the contract in spanish. In short, you never should have signed it if you did not fully understand what you were agreeing to.
As for the insurance, you will again have to look at the accounting to see if it was removed, and if not, then object with the lender and insist that it be removed. You'll also have to drag the dealer into this because it was probably their responsiblity to cancel the insurance and obtain a refund of the premium paid.
Finally, you should never had advised the lender that you were surrendering the RV. You now are liable for the deficiency. You need to immediately contact an attorney and review all of this with him/her. This is going to be too complex for you to handle on your own, especially if your father cannot communicate with the bank in english. Good luck - it really sounds like you got taken in this arrangement.
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