Auto Repo

What is the name of your state? Illionis

3 yrs ago I has a car repoed. I contacted the local police and was advised that it was repossesed and to call back in the morning to find out where the car was taken to get my personal belonging.- When I called back they told me that the loan company did not want the info released and to call them. I did. They were very uncooperative. I never got my stuff or my plates back.

Issue 2- I never recieved notice of the balance due- sell date - the amount it was sold for or the amount owed after the sell of the car. (I did try to obtain this info from the loan company to no avail)

Issue 3- Now I have a collection agency calling (3yrs later). They say I owe $6500 because the loan company has been charging me 14% intrest on the balance. ( I only owed $3000 on the car at the time it was repoed)

SInce I was never given any information in order to rectify this matter 3 yrs ago. How should I proceed?

Thanks

[JETX]

"How should I proceed?"
*** Start by sending the collection agency a 'Request for Validation of Debt'. Use the sample letter at [url]http://www.creditinfocenter.com/forms/[/url]

Write back AFTER you get the response.

Thank you, I will get back to you with thier reply

[I AM ALWAYS LIABLE]

Originally Posted by cullarose

Thank you, I will get back to you with thier reply

My response:

Did you read this?

[url]http://www.illinoislawhelp.org/index.cfm?fuseaction=home.dsp_content&contentID=17[/url]

You may have a cause of action against the bank for failure to notify you of your "Redemption Rights" and for "Theft or Conversion" of your private property.

IAAL

[JETX]

Originally Posted by I AM ALWAYS LIABLE

You may have a cause of action against the bank for failure to notify you of your "Redemption Rights" and for "Theft or Conversion" of your private property.

After THREE years????

[I AM ALWAYS LIABLE]

Originally Posted by JETX

After THREE years????

My response:

Yes. Until the bank fully complies with the law, then any applicable Statute of Limitations is tolled.

IAAL

[I AM ALWAYS LIABLE]

My further response:

Quoted from the aforementioned site - -

Did the Creditor Fail to Send You A Proper Written Notice About the Intended Resale?
If the creditor decides to re-sell the car, then the creditor must send you a proper written notice about the intended resale. The resale can be either a public sale or a private sale. For a public sale, such as an auction, the creditor's notice must include the time, date and place of the sale. A private sale is restricted to particular individuals or groups. For a private sale, the creditor must state the date after which the sale will be held. The purposes of the notice are to:

(1) give you an opportunity to redeem the vehicle before the resale,
(2) give you a chance to find potential buyers for the vehicle; and
(3) to give you a chance to observe every aspect of the sale to make sure the vehicle is sold for a fair price.

To be valid, the notice must also inform the consumer about his/her rights to redeem to property. The notice must also give you sufficient time to redeem or find other buyers before the resale. The notice about the resale must be given not only to the primary debtor, but also to co-signers and guarantors. It must be accurately addressed. If it states wrong information on the notice, such as the wrong date or location for the sale, the notice is invalid. Likewise, the notice cannot be vague or unclear. If the creditor learns that you did not receive the notice and takes no further steps to notify you, the notice is not valid. If the scheduled sale is canceled or postponed, you must be sent notice again if the sale gets rescheduled. With respect to cars, the only time a notice is not required is where you have signed, at some time after your default, a waiver of your right to get notice.


What You Can Do If You Did Not Get Proper Notice of Resale or If the Resale Was Not Commercially Reasonable
When the creditor is trying to get a deficiency from you, it is important to determine if you got a proper notice of resale or if the resale was done in a commercially reasonable manner. If not, you have both a defense and a counterclaim against the creditor. You should assert both the defense and the counterclaim. If you do, you can see that it is possible to both avoid the deficiency and to recover damages from the creditor.


The Defense
If you can show either that the creditor failed to give you a proper resale notice or failed to resell in a commercially reasonable manner, you have a defense to a creditor's claim or lawsuit for a deficiency amount. When either of the above happens, the law presumes that the value of the car is equal to your outstanding debt. Under this presumption, you would not owe any deficiency. However, if the creditor can show in court (at a trial) that the value of the car when repossessed was less the remaining debt and show that the resale was commercially reasonable, then it can still recover a deficiency.


The Counterclaim
You should counterclaim for damages in any deficiency lawsuit where notice of the sale was inadequate or the repossessed property was not sold in a commercially reasonable manner. When either of these things happen, section 9-625(c) of the Uniform Commercial Code permits you to sue for actual damages or for an automatic statutory penalty against the creditor. The penalty is equal to the finance charge plus 10% of the cash price of the secured property. You can get this penalty imposed against the creditor for an improper notice of sale even if the sale otherwise was commercially reasonable. If there are multiple debtors, such as a husband and wife, each may get damages assessed against the creditor.

Sometimes your actual damages are greater than the statutory penalty. In a sale that is not commercially reasonable, your actual damages equal the amount by which the actual value of your car at time of repossession is greater than the amount of the re-sale price. When this happens, you should seek your actual damages and not the statutory penalty amount.


IAAL

[JETX]

Originally Posted by I AM ALWAYS LIABLE

Yes. Until the bank fully complies with the law, then any applicable Statute of Limitations is tolled.

*** HUH?? Is it really your opinion that an action (theft or conversion) has no limitation of action until such time as the 'subject' (bank in this case) complies with the law that the plaintiff claim was broken???
If that is true, then there would never be a tolling of a statute of limitation.

In any case, a review of the Illinois statutes shows that the SOL has not expired:
"Sec. 13‑205. Five year limitation. Except as provided in Section 2‑725 of the "Uniform Commercial Code", approved July 31, 1961, as amended, and Section 11‑13 of "The Illinois Public Aid Code", approved April 11, 1967, as amended, actions on unwritten contracts, expressed or implied, or on awards of arbitration, or to recover damages for an injury done to property, real or personal, or to recover the possession of personal property or damages for the detention or conversion thereof, and all civil actions not otherwise provided for, shall be commenced within 5 years next after the cause of action accrued."