If you are falling behind on car payments, or worse, have had your car repossessed, call me. You may not be in a hopeless situation. The law governing car loans and repossessions provides you with rights and protections.
Attorney Jeffrey D. Poindexter has represented creditors repossessing cars, and consumers that have had cars repossessed. His experience and successes can help you with some of the following issues:
Seizing your car: Once you have fallen behind in payments, your lender is entitled to repossess your car at any time, day or night. The lender is usually not required to give you any warning. However, they may not “disturb the peace” when repossessing the car, i.e. the lender may not use force to take the car, or remove it from a locked garage.
Return of your car: Once your car has been repossessed you may be entitled to the return of the car after if you pay the costs of repossession and bring the loan current. You only have a limited time to reinstate the loan, if you do not, your car will probably be sold at an auction.
Notice of sale: Prior to selling the repossessed car, the lender must give you notice of the sale. The general intent of the law is that you should be given the opportunity to monitor the sale to make sure it is conducted in a reasonable fashion designed to get the highest price.
Method of sale: If your car is sold at auction, it must be sold in a commercially reasonable fashion before the bank is entitled to a deficiency judgment. In other words a lender cannot repossess your car, sell it for far less than it is worth, and then seek a judgment against you for the difference.
Deficiency judgments: Don’t make the mistake of thinking that once your car has been repossessed it is over. After your car is repossessed your lender will probably sell it at an auction. If you owed, say $10,000.00 on the loan, and your car is sold at auction for $5,000.00, the lender is probably going to sue you for the $5,000.00 difference. You will also be sued for the costs of the repossession and the lender’s attorney fees.
Whatever your problem, whether you have just received a summons, have a bill collector calling you several times a day, are afraid to open your mail, or have a question about your credit report, give Jeffrey D. Poindexter a call.
Contact consumer protection attorney Jeffrey D. Poindexter's Chula Vista office now!
Call (619) 694-4694 for a free consultation!