motor vehicle repossession

[garthu]

You know Murdock, EXACTLY the same thing happened to us! Stems from December, another lady i know exactly the same thing. One of the reasons been so quiet here is been dealing with crap. Skipped some payments last year but brought it back to date by december. 25K owing in the meantime they already go the court order to repo. We had to come up with the balance of R25K in a couple of months or get repoed. We did because could not be without the car and fighting it, cant afford that or the loss of the vehicle while we fight it out.

I get the impression the bank is going after these sort of cases KNOWING that the client will come up with balance when only 20K is owed on a vehicle worth 100K.

Standard bank is pulling all there cash in where they can it seems. They really put us in a bad position in the FULL knw we would never just not pay.

[ABCAB]

I know this thread is a little old, but I have a question for the guys here that pertains to motor finance and ABSA that is chasing me around the country to repo my car.

When I purchased the car (a 1997 model 4x4 with 124K on the clock), they stipulated as part of the fiance agreement that I would have to take one of those maintenance insurance policies. When the dust settled after the purchase and I got to the filing process, I see the policy stipulates that the vehicle needs a full service history with books signed by all and sundry. So I call to find out what up with this policy and and 10 year vehicle and the FSH. The vehicle I purchased did not even have it's original engine in it.

When I realized I could never claim on this policy, I told ABSA this thing is a waste and they need to reverse it. They refused and said that this is part of the qualifying process and stipulation to approval of the finance. I later heard this is illegal and I contacted them again. Since then to date (more than 5 years later), I can not see the reversal of this amount. I have also fallen victim to the economic downturn and have lost everything, hence every little bit counts and this amount is of great importance to me. I have come to an agreement with ABSA about 5 times now to pay only R500 per month while I have no employment, but every three to four month, I have someone at my gate to reposes.

The account should have been settled August last 2010, but I have now started a "everything in writing" communication with ABSA to recon the account from day with this policy reversal showing. Three months now I have to chase them every month and get absolutely no return advises from them, yet the emails get read. Today I get a sms that they are proceeding with legal action unless the full outstanding amount is not received as it is outstanding for nearly a year now. When I asked the person to firstly put it in writing to me as to how the account got this way and why it has taken so long to get where we are at, he just told me that he could not help me with that and put the phone down....

Best form a defense is attack it seems. So it seems I will never get that damn recon and all ABSA does is try the scare tactic. I have had hauled them through Hellopeter three times already, but they seem to forget about it every time. If they still have no recon for me by end of the month, it is back to Hellopeter.

Meantime I have moved from the province and now also get no mail, so I requested email statements. I have been in my new province for six months and they still have not got it right to send me any statements.

Any legal eagles here that can give some advise..... I have a similar situation with a timeshare company, but I will go start a new thread for this one......

[solweb]

If he does not arrive there with the Sheriff of the Court and the correct documentation, he may not remove the vehicle, unless you give permission, otherwise it is theft.

[ABCAB]

I have also heard that you need to make sure that the court order is "present". They bargain on the uneducated sucker to hand over his car, it saves them a bunch of trouble following the proper legal route. I have had ABSA by the short and curlies for a long time by just paying R500 a month instead of the prescribed R2700. By showing any attempt to try and make payments they seem to be screwed with the legal process.

I get these intimidating and threatening sms's, calls to repossess, then I go pay R500 and it goes quiet for another month..