Car Repo

[jeremyw]

Thursday night at 11:15pm two men came knocking on my door stating that they were there to repo a car parked in front of my home and wanted the keys to the car. They were told that no keys would be given to them. They had broken into the car, disabled the battery and booted a front tire. Later they cam back to the door asking for my daughter by name. She asked the how they knew her name, they stated that the found her wallet in the car. She demanded that they give it back. The men stated that if the keys were handed over they would return the wallet. She then went out to the car to personal retrieve the wallet from the car. The men used there body's and there car to barricade my daughter form getting into the car. She returned to the house and called the police. They informed her that it they left with her wallet it would be considered theft.
I arrived at home while the men were there. Went in side got a flashlight and a video recorder.
Went out side recording. Asked the men to identify them self and state there intentions. They refused to provide there name and gave me a bogus employer name(i later learned there employer name). I demanded that they turn over the wallet, they refused. They wanted the keys in exchange. I informed them that if they knowingly drove off with someones personal effects that it was theft. They said they do it all the time and i must be from another planet. I returned to the house and a tow truck showed up and took the car off.
The next morning my daughter went to the PD to file a report of theft. The PD gave her a song and dance and would not file it as a theft. Only make a report of the incident. At this time we learned the name of the people and company involved in the repo act.
We are each preparing AFFIDAVIT of the event. Looking into a new repo law that went info effect in Illinois July 2012. Lookin into the company's corp status in Illinois.

What else should we do.

[jeremyw]

Background:
The car was EFT'ed.
CarMax returned the EFT stating that it is not a valid payment instrument. And that there is a SC Scam Alert about people being taken advantage of by Cons who charge money to EFT for them. They and working with law enforcement investigating this type of payoff scam.

[majortasker]

Don't think we have to send the Letters explaining EFT to recipients of the instrument..
BUT, banks know what an EFT is, & by law they have to process it..
CarMax (prob does know EFT) but doesn't want to lose the income derived from your pmts??
As far as they working w/law ppl, that maybe a ruse to SCARE U into starting up ur pmts to them..IMO..

Have U asked them to return the EFT--UNMARKED or Stamped in any way??.. IMO..IF it returned w/any markings then it has been processed & payment has been TENDERED & U should be OFF the hook...Check back ofc for info in letters about EFT's...

[harry]

Hello Guys, sorry I have been away fighting my own battles and dealing with the stupid Hurricane Sandy issues.

All right, let's see what we can comprehend about dealing with car repo's.

1. The finance company wants to get paid and they have a secured interest in the property that is registered with the state's motor vehicle department/commission.

2. If they have already repo'd the car, you are already too late in the game and they have the advantage over you in my humble opinion.


3. Always keep in mind that EFT's are about bookkeeping entries discharging debts and creditors are the one's that get to discharge debts.

4. In this particular case, how did CarMax financed the car in question?

5. Did CarMax had you sign a promissory note and a vehicle finance agreement? Or did they just had you sign a finance agreement, with no promissory note.

6. What are the terms of the finance agreement? Do they spell out when they are entitled to repossess the car? Do they have to give you notice of default?

7. Did you give them any notice whatever before you sent the EFT?

8. Does the agreement state how you can redeem the car after a default and repossession?

Please tell us the facts so we can see where they are vulnerable to attack.

[jeremyw]

Thanks for joining in on this issue.
Harry, you point are mostly directed at the contract. Challenging a contract if you have issued an EFT is the wrong way to move forward and a losing battle. I must assume that you are familiar with the EFT process because you are on this forum.

The car has been repossessed. A notice of repossession was sent by CarMax and received. CarMax has a financing division.
The EFT was returned untouched with a letter stating that it was not a valid payment instrument. The letter went on to talk about a EFT scam that they are working on with the FBI. The scam relates to people paying others to EFT for them for a fee and being taken advantage of financial.

I am still waiting on getting a police report as of today. This is holding me up heavily. The report holds the names of the parties involved.

My plans at this time:
Go after the repo co for theft of personal effects.
Attack the ropo co, it looks like they are not complaint with the new IL law for repo companies and employees. They seem to have a dissolved corp with the state as well. All this is hard to determine with out the police report.
Fight the discharge of debt with CarMax. Have CarMax return the personal property in the car.

[harry]

See, you are asking for help, yet do not let us help you by answering the questions.

Did you sign a promissory note?

Did you sign a finance agreement?

What is it that makes you think an EFT is valid if the creditor does not wish to discharge the debt?

Were you hoping to get lucky and get the certificate of title before they caught up with it and you had a chance to sell the car, having them then try to sue you for the debt?

There are 2 aspects to the EFT's one is the accounting and the other is standing in law.

Which part do you wish to tell me how it works?

I comprehend the fundamentals, I have fought in court with creditors and have won because they could not prove their claims.

A better questions from me would be, what do you expect from us?

What do you want to do?

[jeremyw]

A Retail Installment Contract was signed at the time of purchase.

We expect that most all creditors will refuse the discharge of the debt.

I acknowledge that there are two sides to the EFT process. Both need to be fought in a court of law for enforcement. Arguing the details of the contract that we signed enters into contract law. The contracts are written well and challenging them is difficult. It is better to Challenge the loan aspect of the transaction. If nothing was given then nothing is owed.

If you reread the first post I state the plan of action and ask if there was something that was missing from the process.

There are so many people how enter these types of forums and chime in with the usual response. Did you sign a contract to pay for the car? Then get a lawyer and catch up on the payments thief.
I am here to share the experience and to help others with their issues.

Harry do you subscribe to Nina and Fred’s teachings?

[harry]

Jeremy:

Fred and Nina teach you the what to do. You must also learn the why and how which they do not have the time to teach in a 2 day seminar.

The point I what to reach in this forum is for all of us to know and become self sufficient to in our knowledge to fight back.

[canwill35]

I am growing to be incredulous of this whole process. I am in the process of EFTing three items, two credit cards and one car. I have yet to read anyone successfully pulling off discharging any debt. Please give me one piece of good news. I have found endless claims Fred & Nina are cunning conmen and are getting rich from this scheme. Now don't get me wrong, I have been fascinated by their presentation and am completely hooked. Its been a fascinating journey and I really want to believe this is all possible by sending certain letters from the backroom etc but I want just one person tell me they have they paperwork proving they discharged any debt. I'm still on the team but man Im growing scared. anything, anyone...?