[Casper007]

I finance a car thru a finance company in Jan 2007, The car note is due on the 1st and on the 11th it is late. On July 10 I made a payment thru a company they are using call Truepay. I than call the finance company to let them know that the payment was made, the rep put me on hold and comfirmed with truepay that the payment was made by check over the phone. This is the first time I waited to make the payment on the 10th. All of the other months the car note was reported paid agree/never late. Keep in mind all of this was comfirmed by one of the reps from the finance company. Three business days they repo the car. The payment for that month was not late according to the grace period. They did not refused the payment, infact the check cleared. They told me to get the car back I would need to pay for towing fee....I refused to do that since I paid the car note on time and they comfirmed the payment with the company they used for phone payment. I do believe this car was repo unlawfully. Now this is showing on my credit as repo. Is there anything I can do? Yes they aution the car off 10 days later. HELP

[Mr. Knowitall]

As a delay is typical of third party payment services, odds are when you used TruePay you were told how many days it would be before the amount was in fact conveyed to the creditor, and odds are it wasn't "instantaneous". I haven't used the service, but (assuming this is truecollect.com) from their tutorial it appears they offer "standard delivery" and "express delivery", which would seem to relate to the number of days it takes for them to forward the payment.

What does TruePay say, not about the date of your transaction with them, but with regard to the date they actually gave the money to the finance company?

[Casper007]

The said the payment would post the next business day. I have used the Truepay before and the payment post the next. Day. My concern is the payment was made with the company that they provided as a service and the Rep from the finance company did comfirm the payment with Truepay. So Why would they consider the payment late and repo the care 3 days after the payment was due or late. It was 30 days late.....I don't understand.

[aaron]

To understand their reasoning, you would have to get them to explain it. Do you have a history of late payments, or something else which would have inspired them to act in this manner?

[Casper007]

No. Like I explain to in the other posting....I was never late, As a matter of fact, I pulled my credit report, Experian is reporting repo, But equfax is reporting paying as agree/never late. They have no reason to repo the car, I was never late and insurance was pd also. This is a major finance company so I am kinda confused myself.

[aaron]

Paying a day late is a violation of your contract, although not one most lenders would act on for a first-time late payment. You can explore the consumer laws of your state, which you chose not to disclose, as you may have some protection there.

[Casper007]

I live in the state of TN...Where can I find the protect laws or who can I contact to get more info about the TN consumer protection law

[moburkes]

Right to Redeem At any time before secured party has disposed of collateral or entered into contract for its disposition by sale under Section 47-9-504, or before discharge under Section 47-9-505, debtor or any other secured party may, unless otherwise agreed in writing after default, redeem the collateral by tendering fulfillment of all obligations secured by collateral, expenses reasonably incurred by secured party in retaking, holding and preparing collateral for sale, arranging for sale, and to extent provided in agreement and not prohibited by law, reasonable .attorneys' fees and legal expenses. See Tennessee Code Section 47-9-506

From here.

That information explains how to get your vehicle back, but, like Aaron stated, it was in default on the 2nd.

Unfortunately, the repo order was probably issued prior to the date of your payment, and the rep on the phone likely just didn't tell you.