Legal Question in Credit and Debt Law in California

Repo

I missed a car payment for about three months and I have kept the car for about three months past the day the told me they wanted the car back. I depend on this car to get back and forth to work. I am trying to save money to get a new car that I guess I can afford. The bank wanted no options I told them I had the three months money and they said they just want the car. They have a repo investagater who calls me a threatens me on the phone telling me I am going to jail and all this stuff. What I would like to know is can I go to jail? How long can I keep the car? I have had it for 3months already while they have been looking for it. I want to know what my options are?

Thank you


Asked on 11/11/02, 3:39 pm

2 Answers from Attorneys

Sheldon G. Bardach Law Offices of Sheldon G. Bardach

Re: Repo

If you want to avoid a theft charge, return the car to the bank immediately. The bank is the owner of the car, not you. Do yourself a favor and avoid criminal prosecution. The bank is clearly not one of your friendly neighborhood banks. I would not trust that they will be sympathetic to you in any way. Return the car!!!!

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Answered on 11/11/02, 4:33 pm
Robert Miller Robert L. Miller & Associates, A Law Corporation

Re: Repo

Thank you for your inquiry.

Anytime you fail to pay under an agreement, the company can have secured debt repossessed.

Can you go to jail? That possibility is not likely if you on title to the vehicle. As long as you have possession, you probably would not be facing any crimes, as you have a right to have the vehicle, and they have the right to repossess it. Any police officer would likely tell the repossession company that it is a civil matter, and that they have to get a judgment against you in court before they can do anything.

You can keep the car as long as you keep payments current, or up to the point where they repossess the vehicle.

Your options are to negotiate with the principal (avoid the repossession company if possible), pay off the loan balance and keep the vehicle, or declare bankruptcy.

I hope this answer helps, but if you would like more information, or if you have more questions, please feel free to email me at [email protected], or call my office, toll free, at 1-877-568-2977.

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Answered on 11/11/02, 5:26 pm


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