If you list the lender name you might get some more specifics such as who to contact. But I understand if would not want to do that. Has the payment been made?
I can't imagine a larger and/or professional lender doing this, it just makes no sense. Sure the lender/bank would want to verify a claim is being...
Best answer: If you list the lender name you might get some more specifics such as who to contact. But I understand if would not want to do that. Has the payment been made?
I can't imagine a larger and/or professional lender doing this, it just makes no sense. Sure the lender/bank would want to verify a claim is being processed by speaking your claims rep. But even these lenders do things that do not make sense, they just have a process and no one is really evaluating the situation.
1. Not being negative, but for others reading, do not assume your car will not be repoed if you have an open insurance claim/pending payment, etc. EVEN if some customer service reps tells you it will not. A. they may not really know what is happening in the repo department, and B. they may be lying so you do not hide the vehicle.
2. You need to get a single point of contact. One manager to speak with, then get their managers name.
3. Immediately send a short letter via overnight mail to the collections office. Try to get a specific address, do not send it to the company headquarters or a branch, it will get lost. My car was repossessed while in the process of waiting for an insurance claim to pay off the loan. This is very unfair and makes no sense for Jumbo Bank or me. I had been in contact with customer service reps on this issue many times. NO ONE told me my car was at risk of repossession. This is clear violation of the normal lending practices not to repo vehicles with pending insurance claims. And my insurance company of course has an interest in the vehicle and the repo creates a big mess for all three parties.
Keep a copy of the letter and mailing documents.
Log all calls, who you spoke with, date, time, and notes on conversation.
3. The main thing is get the towing company to hold the vehicle.
4. if you can afford it hire an attorney. they would need to call your contact and say, Stop taking any further action.
5. find the number email address for the Ombudsman, call them, then follow up with a fax if possible.
You need to create a paper trail here.
6. continuing to call random customer service reps is a waste of time.
Hope it works out.
7 days ago