Hi! Kristi, I e-mailed you regarding this through the Carreon and Associates site...and need more help. Just to refresh, I had a truck repo in 1998 in Missouri. As to your advice, I checked the laws in the state and they were not followed. I was suppose to be given a certfied letter and 21 days to pay off the past due balance before repo, which I was not. In fact I called the company to tell them the entire past due balance would be mailed in the next week and the truck was repoed that night. I never even received a late notice from the company. And I never received a bill of sale or anything regarding the deficiency. However, the deficiency is on my credit report in collection. After the repo, I never received any sort of contact from the company. I disputed the deficiency with the credit bureaus, but it was reported recently (Aug 2000) so I don't see it being removed. What should my next step be? You recommended writing a letter asking for a log activity on the account...could you provide me with a sample of this? The SOL in Missouri for this is 10 years. So I'm not sure where I need to go from here. I don;t want to have to go to court, I just want it off my report. Thanks! Eric
The important thing here is to find hard evidence that proper procedure was not followed and then use that information against the creditor. While I have not read the statute for Missouri, you apparantly have and found faulty procedures on behalf of the creditor. If that is the case, build a pleading to that creditor and advise them of what was suppose to take place versus what did take place. Many times, especially if there were monument blunders, they will back down to avoid action from you. You will not be threatning them but rather using your absolute right to be treated fairly. If it is a small creditor then it does not surprise me that proper procedure may not have been followed, as many small companies do not know how to execute proper procedures especially when it comes to UCC codes and statutes. Afterall most don't have a staff of attorneys on hand reviewing every procedure. Sounds like you have a good argument as to the validity of the debt and that includes reporting it. It must be accurate and that encompasses the entire statute plus the FCRA. Simply put together a letter in your own words of what you feel they violated and back it up with the code. Ps: I am not an attorney and this is just my personal opinion (neccessary disclaimer) Eric wrote: ------------------------------- Hi! Kristi, I e-mailed you regarding this through the Carreon and Associates site...and need more help. Just to refresh, I had a truck repo in 1998 in Missouri. As to your advice, I checked the laws in the state and they were not followed. I was suppose to be given a certfied letter and 21 days to pay off the past due balance before repo, which I was not. In fact I called the company to tell them the entire past due balance would be mailed in the next week and the truck was repoed that night. I never even received a late notice from the company. And I never received a bill of sale or anything regarding the deficiency. However, the deficiency is on my credit report in collection. After the repo, I never received any sort of contact from the company. I disputed the deficiency with the credit bureaus, but it was reported recently (Aug 2000) so I don't see it being removed. What should my next step be? You recommended writing a letter asking for a log activity on the account...coul....
does the statute matter? Read § 301.215 R.S.Mo. (1999) allows a lender to include a provision in the loan contract allowing reposession without civil process... § 301.215. Certificate of title on repossession under mortgage, issuance-- contents--application--notice 1. When the holder of any indebtedness secured by a security agreement or other contract for security covering a motor vehicle or trailer repossesses the motor vehicle or trailer either by legal process or in accordance with the terms of a contract authorizing the repossession of the vehicle without legal process, the holder may obtain a certificate of ownership from the director of revenue upon presentation of (1) an application which shall be upon a blank form furnished by the director of revenue and shall contain a full description of the motor vehicle or trailer and the manufacturer's or other identifying number; (2) an affidavit of the holder that the debtor defaulted in payment of the debt, and that the holder repossessed the motor vehicle or trailer either by legal process or in accordance with the terms of the contract
RE: does the statute matter? Precisely: Accordance with the contract but the actions cannot sway from the federal statute which would overule any contract if the procedure was not followed exactly as exicuted in that contract. Any arguments of actions performed outside the scope of the statute or contract ould be moot. Like I said, if the lender is small and did not follow proper protocal, then you have a chance. Pat wrote: ------------------------------- § 301.215 R.S.Mo. (1999) allows a lender to include a provision in the loan contract allowing reposession without civil process... § 301.215. Certificate of title on repossession under mortgage, issuance-- contents--application--notice 1. When the holder of any indebtedness secured by a security agreement or other contract for security covering a motor vehicle or trailer repossesses the motor vehicle or trailer either by legal process or in accordance with the terms of a contract authorizing the repossession of the vehicle without legal process, the holder may obtain a certificate of ownership from the director of revenue upon presentation of (1) an application which shall be upon a blank form furnished by the director of revenue and shall contain a full description of the motor vehicle or trailer and the manufacturer's or other identifying number; (2) an affidavit of the holder that the debtor defaulted in payment of the debt, and that the ho....
