Legal advice (not timeshare related)

[simpsontruckdriver]

Here is my predicament. Between February - May, I worked for LYFT in Orlando FL because I could not find a good-paying job (over $16/hour). I averaged $600/week. My rent and other bills were late, and I could not pay my car (2011 Buick Enclave CXL) payment. Basically, I was about $1500 late. Once I got "back on my feet" driving a semi, I tried every month to get the loan fixed, nothing. I could not call since I worked 7am-9pm Mon-Sun (they are only open 8-8 M-F) but I sent them e-mails.

Last month, I sent them a check for $400, they took the check info (routing and account number) and presented it for $4000. As soon as it hit my bank account (I had less than 1/4 of that), I had the bank "bounce" it and they did not charge me anything, they knew something was wrong. A couple weeks ago, we got a notice from a repo company, we called the finance company, they said that the car was not repo'd but if we paid one month payment, they would end the repo order. We did that, it cleared both the loan and bank. And what happened? Yeah, they repo'd it. I called them, they said I need to pay $1500 to get it back, saying the reason was a payment bounced (the forgery).

I am more than willing to do whatever I can to pay everything owed over the rest of the loan, but it seems like they broke the verbal agreement (I have no idea if the agreement was noted on my account). Is there anything legal that can be done? Refinacing it is impossible, as being 4+ months late on most loans/bills killed my credit. I have reported the forgery issue to their local BBB, but I'm still waiting on a response.

 

[Karen G]

I have reported the forgery issue to their local BBB, but I'm still waiting on a response.

How about reporting the forgery issue to the police? Wouldn't that amount be a felony?

 

[geist1223]

I would question the ethics of any attorney willing to give free legal advice on the Internet. Also remember many times advice is worth what you pay for it.

 

[VacationForever]

I have no legal advice to fork out but I am not clear about why the check of $400 was made but the loan company tried to get $4,000 out of it. Since you owed $1,500 why in the world were they trying to get $4,000? Besides their being fraudulent in trying to obtain more than the $400 on the check, they were trying to get more than what you owed.

Since they took your car, is it possible to buy another car with cash and forget about the car which they repo'd? I don't know if you will be hounded by debt collectors.

 

[WVBaker]

When you say, "I sent them a check for $400, they took the check info (routing and account number) and presented it for $4000", was there a paper check written and deposited with the bank? This would be a very important piece of evidence to keep. Altering the writing on a check in any way would be considered forgery. This "finance company" seems to be facing some implication in this matter. Contact your local police department and file a report. Sounds like they're trying to shake you down to get more from you.

Contact the Attorney General's Consumer Protection Division for the state you live in. This office should offer a mediation service that may be able to resolve the problem between you and the business. Sometimes, just by getting them involved is enough and also, they will direct you on what to do next.

Contact Equifax, Experian and TransUnion to add a statement to your report. The Fair Credit Reporting Act entitles you to add a statement to your file giving your version of the dispute. The credit bureau must normally include a summary of your statement in future reports. Be honest and concise and don't spend time bashing the business. That's not what this is for.

 

[bogey21]

Last month, I sent them a check for $400, they took the check info (routing and account number) and presented it for $4000...

Sounds like they converted your paper check into an electronic transaction. If so, they will probably argue if challenged that the $400 to $4,000 was nothing more than a typo and that all they were trying to do was speed up the transaction. This in no way means that they have a decent argument about all the rest that they did to you but I think the "typo" argument gets them off the hook on that part of the issue...

George

 

[simpsontruckdriver]

After talking with my dad (who sold cars between 1961 and 2015 before retiring due to health), he thinks the best option is to walk away. The $400 becoming $4000 issue was basically a paper check. I used "Bill Pay", but because the finance company doesn't do electronic, the bank sent them a paper check. Yeah, they could argue it was a typo and not forgery. Then, they proceeded to renege on the deal to stop the repo and took it.

I will talk to my sister who is an attorney, basically to prevent the "bottom of the barrel" finance company from suing us for the "underwater" (approximately $8000), if they refuse to let us get the car back and work on the late payments. Also, the finance company can't say we did not contact them, I sent them plenty of e-mails saying I am willing to work with them to get the loan back to good standing over the last several months.

TS

 

[Gypsy65]

I might be wrong but I think there’s way more to this story

Dad sold cars. Sister is a lawyer. Couldn’t make a call during business hours? No lunch break ?
And what seems to be a buy here pay here type of finance company

Just my personal opinion but I think the repo is going to be the least of upcoming life lessons

 

[Passepartout]

I think the OP needs to consult with a lawyer, licensed to practice in the state where this transpired. Plan on paying the hourly rate for the consultation- no competent attorney gives 'free' consultations on such matters. No one here is qualified to dispense the advice requested. Advice received for free 'on the interrnet' is useless, worthless, and quite possibly damaging. It may be worth MUCH less than what is paid for it.

Good Luck and best wishes for a successful outcome.

Jim

 

[am1]

I guess this is why I choose to pay cash for cars. Less headache.

 

[Talent312]

If the finance company tries to enforce the loan after taking the car...
There's a chance they've violated that state's uniform commercial code.
Article 9 pertains to Secured Transactions. While they may be able to
enforce their lien, finance companies often fail to follow notice provisions.

If nothing else, their failure to comply is a defense to collection efforts.
.

 

[Big Matt]

I would walk away, put it all behind you and move on. You may be angry, but the car is gone and I'll assume that the equity that you had in it won't be worth the headache. It would be different if it were a newer car and you put half the money down or something like that. After you retain an attorney you will be just spending money for what may amount to you getting the car back and still having to pay the back payments and any late fees. Not worth it to me.

 

[RX8]

Sorry for your troubles.

If I understand correctly the lender had it out for repo. They verbally told you it was OK to pay just $400, which was likely all you had to offer at the time. Unfortunately, just like timeshare salesman talk, that was just verbal fluff. They probably told you that to get some money paid but more likely to make it easier to repo since you would be caught off guard. I am not sure you have much recourse since you were still in default even after paying $400. Some states do allow for reinstatement of the loan after a repo (in lieu of accelerating the full loan balance). Not sure about Florida. Even if you can reinstatement the loan the bank will ask for past due payments plus the cost of repossessing the vehicle. The lender has no requirement to reinstate without those fees being paid.

Since your sister is an attorney she should review your loan contract for what constitutes a default and your reinstatement rights.

Wish you luck.