Results 1 to 4 of 4

Hybrid View

  1. #1
    Join Date
    May 2009
    Posts
    11

    Default After Repo, Lender Not Accept Payment, I Have to Pay the Entire Balance

    My question involves an auto loan or repossession in the State of: New Jersey.

    We had an SUV that was leased with GMAC. It was behind in payments, and already repo'd once (I'm not going to get into it, but the first repo was a mistake in itself which I am looking to eventually going to get taken care of and off of my report).

    They are saying that because this is the second repo, they do not want to allow us to bring the car up to date and keep it. Instead, they demand all or nothing. All is $30,000.

    We had the money in hand the day of the repo to to pay the late payments and bring the car up to date, including repo fees ($1700- 2 months behind and repo fees). We were refused about 10 times between different people, including 2 supervisors.

    Had we any any idea it was going to be repod, we would have IMMEDIATELY paid them. We though we were ok to pay on the same date we usually do (about 6 days later than they repod it a 1am)

    We then hired a lawyer, paid him $500 to get our car back and allow us to bring it up to date. Well he said they aren't budging.

    Now instead of allowing us to bring it up to date, they want the entire $30,000 remaining balance, or the car gets sold at auction and we have to pay the difference. WE WANTED TO PAY WHAT WE OWED!

    Isn't there some way to get this car back and bring it up to date before it gets sold??

    Thanks

  2. #2
    Join Date
    Jul 2008
    Posts
    853

    Default Re: Leased Suv Repo'd, They Will Not Accept Payment, I Have to Pay the Whole $30,000

    Not really. The lease agreement you signed was the agreement. You violated it. Twice.

  3. #3
    Join Date
    May 2009
    Posts
    11

    Default Re: Leased Suv Repo'd, They Will Not Accept Payment, I Have to Pay the Whole $30,000

    The lease contains nothing pertaining to what has transpired. It never mentions two repos being this or that, and not being able to pay what is owed once it is repod. Again, we hired a Lawyer, who thinks we have a class action... be we don't exactly have the money for a class action.

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Leased Suv Repo'd, They Will Not Accept Payment, I Have to Pay the Whole $30,000

    In a class action lawsuit, the named plaintiff (or plaintiffs) are individuals whose injuries are representative of those suffered by the class. The costs of seeking court approval of a class, as well as notification to members of a class, are substantial. The attorney is paid a percentage of the amount recovered on behalf of the class, subject to the approval of the court. I have never heard of a law firm that proposed to a client (particularly one who has paid for the consultation) that they may "have a class action" but would have to bankroll the litigation on behalf of the class themselves.

    1. Sponsored Links
       

Similar Threads

  1. Repossession: Personal Payment Plan, Late on Payment - Can I Repo My Car Legally
    By hollatjagirl in forum Cars and Dealerships
    Replies: 8
    Last Post: 05-25-2011, 11:54 AM
  2. Unemployment Benefits: When Your Balance Gets to 0, Do You Need to File an Entire New Claim
    By skittles859 in forum Employment and Labor
    Replies: 1
    Last Post: 01-15-2011, 06:23 PM
  3. Repossession: Interest on Balance After Repo
    By Ktrimble in forum Cars and Dealerships
    Replies: 8
    Last Post: 08-26-2008, 07:13 PM
  4. Debt Collectors: Collections Won't Accept Payment Arrangements
    By robert Juliano in forum Debts and Collections
    Replies: 1
    Last Post: 09-02-2006, 01:43 PM
  5. Debt Collectors: Refusal to accept payment
    By townsend_chery in forum Debts and Collections
    Replies: 2
    Last Post: 01-01-2006, 12:32 PM
 
 
Sponsored Links

Legal Help, Information and Resources