
Quoting
divemedic
The laws are like that everywhere. You made a contractual agreement to pay every month, on or before a certain date. If you fail to do that, there are a number of remedies available to the lender: they can "accelerate" the loan, meaning that they can demand payment in full, or they can repossess the collateral (the car), or they can do both (minus the resale value of the car, after it is resold at auction). Which one they choose to do depends on a number of factors, including the contract, your state's laws, the bank's policies, and the likelihood (as figured by the bank, using your payment history and credit record) of failing to pay the rest of the loan.
Calling you every day that you are late and asking for payment is not harassment. The easy way to stop the calls is to pay them. I know that sounds harsh, but think of it from their point of view. After all, they loaned you thousands of dollars, perhaps tens of thousands of dollars, and if you were in that same position, you would want to get paid, or at least limit your losses as much as possible, right?
This is not as much of an anti-consumer thing, as it is a protection of the money of the investor. Look at it from the bank's point of view: If you are paying late now, what happens when another of life's little problems come up? What is the likelihood that you are maintaining the car? How will this effect the resale value of the car, if the maintenance is not being done?