Legal Question in Credit and Debt Law in Texas

Wrongful Repossession?

We purchased a truck and the note was purchased by another lender. That lender called the dealer and told them we were $400 past due. The dealer called me and I told her I had just mailed a check for $250 and that I would drop off the balance to the new lender. I dropped a payment for $400 when I was able and then that night the repo man came and took the truck. We had a payment come due Dec 1st for $125. The payments made (250 which have not been posted yet)would pay us up through Jan 1st. The payments were actually made before the repo but now the dealer will not return my phone calls and are saying that I may not get the truck back at all. The payoff on the truck is only $1600 now and I dont think any of this is fair? What can I do and is what they do legal? Yes I was in default but at the time that they repossessed the payments were complete through two due dates. Please respond as soon as possible. Thank you, Kim


Asked on 12/03/04, 4:39 pm

1 Answer from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Wrongful Repossession?

You need to talk to the lender - they have a security interest in the truck. The dealer does not have a security interest and should have no say in what happens. Following repossession, you should get a notice that the truck will be sold and the date it will be sold. You have until that date to come up with the balance and pay off the truck. They should also notify you where the truck is being held so that you may retrieve any personal belongings you left in the truck. The lender has the right to repossess if you are one day late in making payments but they have to give you an opportunity to redeem. Call the lender and see if they will work with you. If they will not and they do not send you a letter, you have a cause of action against them.

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Answered on 12/03/04, 9:02 pm


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