Legal Question in Credit and Debt Law in California

Re: My car was taken from me

Some contracts contain "acceleration clauses." These basically say that a breach of the agreement accelerates the payments due. For example, payments that would be made every month are accelerated, and they are all immediately due.

You would want to read your contract to see if such a clause is present.

Re: My car was taken from me

California repossession law requires that you receive notice and the opportunity to pay the past due amount plus fees and interest to bring the loan current and get your car back. Do some Google searches to see if your rights have been violated.

Re: My car was taken from me

Under California Law, you usually have the right to reinstate your loan (just pay back what you owe plus towing and storage fees). If the bank refuses, then you will not owe it a deficiency and you might even have a lawsuit. There are some exceptions to a right to reinstate, so I would need further info to be able to assess your particular situation. In the event the bank sues you for a deficiency, you will need to prove it refused to allow you to reinstate, so you should confirm this with a letter.