Results 1 to 6 of 6
  1. #1
    Join Date
    May 2014
    Posts
    2

    Default How Long After a Right to Cure Letter Will a Lender Repossess a Car

    My question involves an auto loan or repossession in the State of South Carolina: I have an auto loan with Santander Consumer USA. I have fallen behind on my payments and my attempts to work out an arrangement with Customer Service to keep myself out of default have failed. I received a Right to Cure Default letter that has expired as of 05/16/14 and I am trying to figure out how long after the expiration of that letter will it be before they attempt to repossess my vehicle? I have read online and I understand the repercussions of the situation and what is coming down the road, but I do not want to be blindsided at my job when the repo people show up to take my vehicle. I also do not want to be left without a way to get to and from work. I have tried speaking with Customer Service, but they will not give me an answer, I keep receiving a runaround.

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Santander Consumer USA in South Carolina

    Is the car worth the loan? They really don't want it back unless there is equity. Tell them to come and get it or shut up and accept the payments you can afford to make.

  3. #3
    Join Date
    May 2014
    Posts
    2

    Default Re: Santander Consumer USA in South Carolina

    The balance on the loan is currently $23,000. Payments are $599 a month. It's a 2012 Nissan Juke SUV, and the KBB value on it at this point is somewhere around $17k.

  4. #4

    Default Re: Santander Consumer USA in South Carolina

    File a complaint with the Financial Consumers Protection Agency. At least you will get a straight answer.

  5. #5
    Join Date
    Nov 2007
    Location
    Officially across the country from where I've been all my life
    Posts
    4,494

    Default Re: Santander Consumer USA in South Carolina

    They're not required to tell you when they're going to come and get the car. If they do, that'll give you just enough time to hide the car from them (not saying you would, but people do). Since you can't afford the vehicle, just tell them to come and get it. Give them a time and location. That will avoid the element of surprise.

  6. #6
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Santander Consumer USA in South Carolina

    Legally, they can come get it at any time, and they are NOT required to tell you when they are going to do so. This is because people do try to hide the vehicle in an attempt to stave off the repo. (It never works. If you do that, they can take you to court to obtain the location of the vehicle.)

    You owe more on the vehicle than it's worth. Honestly, let them have it.

    Go find yourself a cheap-o beater car on AutoTrader or Craigslist that will get you to and from work until you can find a car with a smaller payment. And if you can at all manage it, don't get your loan through vultures like Santander.


    File a complaint with the Financial Consumers Protection Agency. At least you will get a straight answer.
    What ever gave you that silly notion? He's in default, they now have a right to repossess. There is no legal right to payment arrangements on an auto loan, those are done as a courtesy only, and Santander doesn't have the reputation of being particularly courteous. There is also no legal right to be told when your lender is coming to repossess.

    There's nothing to file a complaint about here.

    1. Sponsored Links
       

Similar Threads

  1. Repossession: How Long After Default Can a Lender Still Repossess a Vehicle
    By map0824 in forum Cars and Dealerships
    Replies: 10
    Last Post: 12-24-2013, 01:15 AM
  2. Chapter 7: How to Make a Lender Repossess
    By tryingStephanie in forum Bankruptcy Law
    Replies: 4
    Last Post: 06-03-2013, 08:36 AM
  3. Reinstatement: Does Your Lender Have to Send a Right to Cure Letter
    By PrettyP in forum Cars and Dealerships
    Replies: 2
    Last Post: 08-20-2012, 02:49 PM
  4. Repossession: My Car Was Repossesed Without a Right to Cure Letter Sent
    By volleyballmom8 in forum Cars and Dealerships
    Replies: 1
    Last Post: 12-20-2011, 04:16 PM
  5. Recourse for Repossession Without Right to Cure Letter
    By jlbrooks in forum Cars and Dealerships
    Replies: 2
    Last Post: 01-10-2011, 12:30 PM
 
 
Sponsored Links

Legal Help, Information and Resources