[zandihun]

My question involves an auto loan or repossession in the State of: north carolina-- my car payment was due 2/28 i called in 2/20 and told the woman i wouldnt be able to mk payment until 3/13. she said that would be fine. My insurance payment was up for cancellation 2/16. i md pmt 2/17 and and insurance co sd they would contact car lot. I did not receive any calls, any letters, and neither did my references. so i thought everything was good. my car was repo'd before 6am on 3/13. i called the car lot as soon as they opened and asked why they picked up my car. the man who answered sd it ws because i didnt hv insurance. i told them i did so they all of a sudden decide to call & vrfy & found out i did hv insurnce. but the thing is they wont honor the fact tht i had insurance and now wants me to pay of course the payment & repo fee plus half of the balance of the car. i really dont feel this is fair.I told them that i would make the mnthly pmt and even the repo fee but i felt half the bal was ridiculous. is this something tht is just ok to have happen to you? Because i dont think so.

[Mr. Knowitall]

You had a lapse in your insurance, in violation of your contract with your lender. You didn't inform your lender that you had reinstated your policy and trusted a stranger to do that for you. A hard lesson, certainly, but now you know you should have made the call to your lender yourself.