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    loan company repossesion

    Jurisdiction / State: Colorado

    Sir or Ma'am

    I am writing about a situation with my daughter. She purchased a car through lakeside auto (a company who sells cars to people with no credit or bad credit) my daughter was 18 so it was a no credit situation. The finance company was security capital funding. Well she was living with a guy and dating him. She worked very hard paying for that car did so very well until domestic issues with him had come up (her and him ending up in jail her for protecting herself). She finally kicked him out only to find out he had not paid some of the bills. Mind you she is 20 at this time and makes 8.00 hour. So she moved out of her $600 dollar a month appartment which she still had 9 months on lease she couldn't afford it on her own. So for the last year she was working closely with the finance company them always saying no worries as long as you make arrangements we can work something out. You have been a good customer and we are glad to help you just send the money in. I even talked to them once and they said the same to me I was paying it that month. She continued to work with them to get caught up. So this month she is talked to them and they said mail it by the 20th and everything would be roses. So the car was at her friends house because she was trying to not drive it (axel going bad) her friend was driving her. This was for about a week my daughter sent her payment on the friday which was day 20 over due but he had stated if its in the mail no problem. She then paid the next months on monday making herself 3 days ahead. She got off work monday and she happened to go to her friends house they usually drop her off at a different appartment. Her car was being towed she asked the tow driver am i parked wrong or what. He said no repossession he would not let her take her things or tell her where he worked for. She called the loan company and the lady told her that when they talked to her the order was already out for repo she said my daughter didn't answer the phone friday so they repo order went out. my daughter cant keep her phone on at work and doesn't have voicemail. For the last year if they cant get a hold of her they would call me but not this time. she called them and was told sorry that they are going to tack on all these fees. my daughter asked to please let her make arrangement. She explained her situation and of course this time the were nasty. She now owed less than the car was worth making them a profit. She yelled at my daughter called her a low life, states she will sue her and garnish her check even if it makes her homeless. They hired someone to follow my daughter from work (follow a 20 year old girl nightly at 1030 pm isn't that stalking) makes sense she thought her ex boyfriend was tailing her the other reason she was driving a different car. She even made refrence to the fact that my daughter went to jail (for defending herself against her abuser) my daughter was crying and said maybe i should have just stayed with him and she stated maybe so. Very cruel and i do believe illegal to treat people this way. After looking them up on the net they have no webpage due to excessive complaints like 38 and do not have BBB indorsement due to 20 unresolved complaints. What action if any can i or the other people who have complaints take. needs to be a class action law suit againts these people.
    Sincerely
    angry mom

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    Legally, your daughter has nothing she can do that she can afford.

    Why?

    If she were to find a lawyer, he/she would require a retainer (fee) to be paid in advance.

    That, of course, presumes she would have a case or a cause of action.

    I don't think she does based on the information you provided.

    Your daughter is always free to share or discuss her concerns with the FTC (Federal Trade Commission).

    They regulate debt collectors.

    This is a link to the website they maintain for said purposes.

    http://www.ftc.gov/os/statutes/fdcpajump.shtm

    Personally, I know she is upset, maybe steamed.

    In the end, she should think about how she ended up in this predicament.

    I'm not being judgmental, just offering a different perspective.

    Good luck and fare well.

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    I am just wondering why they are allowed to do this they are like loan sharks everyone i have talked to or who has placed a complaint states they did the same they worked with you 20 30 days past due until you are right at the end of the loan. Thats because you now owe less than the car is worth so they stand to make a profit now. How can this be leagal and if the 38 other people this year that they did this too all stating they worked with them until the end then repossesed them. And as for how she ended up in this she is young and left an abusive relationship and the economey is bad. She struggled to stay above water paying rent and that car. she had no electricity or food. Her hours cut at work and everyone is acting like she is some bum that doesn't pay her bills. Cant she have a civil suit for the collection aspect of it you can harass and demean people stating you will sue them and make them homeless if needed. How can this be allowed to go on. We don't want money if thats what you think we want these loan sharks out of buisness. For goodness sakes they even did it to a person with disabilitys?

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    Quote Originally Posted by nurse343 View Post
    I am just wondering why they are allowed to do this they are like loan sharks everyone i have talked to or who has placed a complaint states they did the same they worked with you 20 30 days past due until you are right at the end of the loan. Thats because you now owe less than the car is worth so they stand to make a profit now. How can this be leagal and if the 38 other people this year that they did this too all stating they worked with them until the end then repossesed them. And as for how she ended up in this she is young and left an abusive relationship and the economey is bad. She struggled to stay above water paying rent and that car. she had no electricity or food. Her hours cut at work and everyone is acting like she is some bum that doesn't pay her bills. Cant she have a civil suit for the collection aspect of it you can harass and demean people stating you will sue them and make them homeless if needed. How can this be allowed to go on. We don't want money if thats what you think we want these loan sharks out of buisness. For goodness sakes they even did it to a person with disabilitys?

    Madam, I have no dog in this fight.

    It is none of my business, nor do I care a tinker's twit, as to how your daughter got into the mess you allege she now finds herself.

    It may just be me, but I've parented a few children to adulthood.

    They too found themselves in financial difficulties.

    I paid off a car for one of them.

    I know all too well that people get into financial trouble.

    I also know that the owner of the debt (their creditor) doesn't have to allow you to be so much as one day late.

    Late is late.

    Some creditors are more forgiving than others.

    Apparently your daughter's creditor wasn't all that charitable.

    There is nothing illegal about enforcing one's legal rights, even in the last month of a contract.

    I'm not her attorney, nor am yours.

    You told me more than I needed to know in order to provide you with a few suggestions that might be useful.

    I suggest you start with by reading her automobile purchase contract and attendant documents.

    The HOW they can do this you will find within the four corners of those documents.



    If there are "40 prior victims", why not all band together and try to sue the car lot?

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