My car was repoed 12/2/02 by 5/3 Bank. I owe &5070 from a $15,500 loan. I inquired about redemption Dec 15, but did not have all the neede money to catch up on past due, plus the $260 needed for storage etc. The bank subsequently sent repossession men to my house 5 additional times as well as twice to the house I had just sold. I finally called the bank on 2/6/03 and stated I would seek legal action if further harrassment continued. I had to tell them where they could find my car since the CSR insisted I had the car. Recv a second notice of intent to sell at private auction and so on. but continued to get call sfrom bank wanting payment. Informed them of the 60% or > payment made per Uniform Commercail Act, 2 different people did not to which I was referring and stated that it was not pertainable to me, and questioned my sources which I provided to them. (S.H.A. 815 ILCS 375/20 from chapter 121 1/2 Thurday eve got a call again w'ith settlement proposal of half the amount due ( $2535.00) in lump sum by 3/13. The rep was under the impression the car was repoed on 2/6/03 and she went along w/ the mentality of teh others adn told me that I was wrong when I stated no, it was dec 2.2003. I inqutold er I could /would not coit without knowing the storage fee. She initially said no fees, after my 3 douting question she said she would call but after I questioned her for the third time she called them.There is an dditional $1350 for storage. I immedialty said no and also gave my oinion the bank needed to assume responsibility bercause they "lost " track of the car. Of course I was tolf I was wrong. So I am wondering if it is worth my time to consider any/ all of the following: 1. Try to negotiate a price taking into account the inflated storage fees. 2. To persue the matter legally regarding the excess fees, and lenght of time the bank is taking to sell. 3. Investigate the 60% rule which also address the fact that the bank had a choice to make within 5 days of the repo to either keep car , sell and absorb th e diference, or notify me and try to work out a deal. I was notified originally ( recvd letter in US mail) on Dec 7 which is 6 days. 4. Also found a site that discussed selling vehicle i a reasonablle length of time , being 60 days. It is over 90 days. 5. Since the bank screwed up with misplacing the car and thought it had been repoed 2/6/03 when it was actually done 12/2/02 reasonable to ask them to take responsibilty for 2 months storage? 6. Can i try to sell it to someone else for that price if i cannot come up w/ the money to keep off my CR? Thanks for reading all of this if you made it to here. (I live in Illinois) Joan
