Legal Question in Credit and Debt Law in New York

Vehicle repo'd for not sending title to bank

I finaced a vehicle in Oct 03. Never recevied a bill. On Jan 30, 04 they put a repo request on my vehicle. When the bank finally got a hold of me, I agreed to make payment and did so.

The bank then asked for the title, which does not state them as a lien holder. I said I have it and they said I have to mail it in.

I didn't and in May 04, the repo guys came and picked up the vehicle for ''non payment'' on the Jan 30 request.

When I stated that I am paid in full, thsy said sorry I have to take it.

I called the bank the naext morning and they said that the account is up to date and current but since I haven't sent in the title, it defaults as per contract.

Is this true? Is it enforcable in NYS?

Please advise if I can hold them responsible.

Thanks,


Asked on 5/13/04, 6:13 pm

2 Answers from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Vehicle repo'd for not sending title to bank

My colleague is absolutely correct. In these matters the agreement you signed with the financing company (bank) controls. It may be that they are correct. My guess is that they have to make some sort of demand in writing about the "default" so that there is some proof that (a) you were aware of the problem and (b) did nothing about it...You would have to go to some court and commence a proceeding to get the vehicle back (and it is probably sold off somewhere already) so that all you would be left with is an action to recover money damages based on your losses if you have to get another car. First thing...get the contract and read it very slowing and carefully and completely. THere MUST be something in it about defaults, notice, writings (how one side notifies another)...you must become very familar with what your contract says. good luck

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Answered on 5/14/04, 12:38 am
Robert R. Groezinger GroezingerLaw P.C.

Re: Vehicle repo'd for not sending title to bank

What does the contract say? You have it, read it.

When the car is sold, it will come up short of what you owe, and you will be sued onthe difference.

Why not read the contract, do what it says, and try to redeem the car before it is sold short.

Good Luck

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Answered on 5/13/04, 7:00 pm


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