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Debt Collection Hassles

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R

RSweet

Guest
What is the name of your state? West Virginia

My loan payment (for which my car is collateral) was overdue. The finance company sent me a letter saying that if payment was not made by Nov. 29th, an agent would be repossessing the car. I put my payment in their mail slot at 6:00 p.m. on Nov. 29th. I arrived home at 7:30. In my door was a finance company rep's business card. They had come to my home (I assume to repossess). Today is Saturday and they are closed. I am sitting here afraid that they will show up with a tow truck. I made the payment by the due date. Is this harassment? I had disputed part of the due payment (a fee tacked on the normal payment for mandatory insurance coverage...disputed because I already have full coverage on the auto, but don't want to make the finance company the sole payee for any claims). Can a creditor come to your home to collect a debt? Does a repossession have to be done through the courts? Please help me. I cannot afford a lawyer.
 


JETX

Senior Member
"I made the payment by the due date."
** Sorry, but based on your post, you did NOT make the payment as required. Your post said that they demanded payment "by Nov. 29th", meaning BEFORE the 29th, not ON the 29th.

Also, with your payment being made after business hours on the 29th, you were obviously 'playing loose' with their demand for payment.

"Is this harassment?"
** No.

"I had disputed part of the due payment (a fee tacked on the normal payment for mandatory insurance coverage...disputed because I already have full coverage on the auto, but don't want to make the finance company the sole payee for any claims)."
** Your 'wants' have nothing to do with this. Read your agreement, you will clearly see that the lender requires you to maintain specific coverage and that you must make them a party to the coverage. I also doubt that they want to made the SOLE payee, but a co-payee (which is very common).

"Can a creditor come to your home to collect a debt?"
** Yes. As long as they do not 'disturb the peace' in the process.

"Does a repossession have to be done through the courts?"
** No. When you signed the loan agreement, you agreed that the lender would have a security interest in the vehicle. That 'agreement' allows them to repossess the vehicle without any further legal process.
 

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