Can a financial institute repossess a vehicle before the first bill is due based on a lack of communication?

I bought a car and traded in old car as down payment. The bank tried to contact me to verify that I am in fact the individual purchasing the car. The bank number and name show as unknown and are therefore ignored due to high volume of telemarketers. The bank repossesses the car from my job site in front of all of my employees. I feel that my character has been tarnished for absolutely no good reason and seek much more than the vehicle returned to me.

Asked on March 21, 2011 under General Practice, Alabama


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I can really understand how embarrassed you must have been and how infuriated you must be.  But your contract for the purchase of the vehicle and with the financing institution probable has in it a bunch or paragraphs that deal with cooperation and providing information when requested.  And if the lender could not get in touch with you to verify the information they needed to complete the deal (did they leave a message or messages?) then they may have sen this as a breach of the agreement and exercised their rights under the contract as well.  It may have been quite legal what they did.  If you are still unsure then take the agreements to an attorney in your area to review.  Good luck to you.

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