Legal Question in Credit and Debt Law in Massachusetts
Car Repo Letter
bank sent out Repo letter, i called bank asked for full payment history, because i dispute the amount due $772. i sent in a payment of $277 before the Oct 2 date of Repo the bank accecpted this ppartial payment and then told me it still doesnt stop repo. i thought the bank after accepting partial pament needs to draft a new repo letter with a new date and total. is that right?
3 Answers from Attorneys
Re: Car Repo Letter
There is no specific law that requires a lender to mail out letters prior to repossessions. Depending on your contract, you likely gave the bank a security interest in your car allowing them to repossess if you are in default. If you believe the bank has violated the Fair Debt Collection Practices Act or to understand how a bankruptcy may help you stop a repossession, contact an attorney.
Re: Car Repo Letter
It depends on your bank's policy. What you should have gotten is some document or agreement that will halt or suspend the repossession. I suggest that you call the bank and speak to some one in charge about this problem.
Re: Car Repo Letter
No. It depends on the Bank and not the Repo/collection agency. If you can't resolve this with something in writing from the bank cancelling the repo, retain an attorney well BEFORE the repo date. Good Luck!
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