Legal Question in Credit and Debt Law in New York
car repossession
my car was repossessed because of not paying for three months the problem is one, i signed up for autocheck,and i got a letter they were going to start taking the money out of my checking acount, so everything seemed fine and since i set this checking acount up for this and knew the money was in it never looked at my statments turns out that they never did take it out when i asked how come they never notfied me they said they tried to call me but never sent any thing by mail when i asked why not they said they could do that. so can they or should have i recived something in the mail that i was behind in payments also i had to pay for a storage fee to the towing company is that legal since i was willing to get the carout the next day but was not allowed until seven days later how can i be charged when i was not allowed to take it out for seven days. is there any one i could call to tell my whole story and get advice thank you
2 Answers from Attorneys
Re: car repossession
If yu want to redeem the car, do so...forget the annoyance of the storage charge.
If your car is "repo-ed", and then sold by the lender, the sale will be short by probably 50% of the actual value and you then have to pay that plus all of the repo charges.
Offer to pay but ask to see in writing where they get seven (7) days from.
Also check the car for damage inside and out. The repo company has a check list (or should) showing the damage when they took the car. Don;t let them make you pay for damage that was casued by the lender's repo company.
Good Luck
RRG
Re: car repossession
An interesting problem.
It seems the towing company did nothing wrong and the mortgage company was legally within their rights. But you have a great case against the bank!
You must pay the tow and redemption. If they auction the car you will be a big loser. The auction will net about 10% more than the mortgage owed.
But do not hold the bank blameless. You can recover your losses from them in Civil Court.
You are welcome to a consultation at no fee at my offices at 42 west 44th st., NY,NY. Please call for an appointment first. (646) 591-5786
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