Legal Question in Consumer Law in California

Repossession Question - Requirements for Post-Repossession Notice

My vehicle was just repossessed, and the lender is ''requiring'' that I have a ''guarantor'' sign a document that surrenders all of our legal rights to the contract before I can reinstate the loan.

From what I read, California Civil Code 2983.3 Does not allow them to require anything other than the past due amount and related fees to be paid before my vehicle may be returned.

Any help? Is this allowed? I can make these payments but I can't find anyone that will sign a document that states they have the right to change interest rates and demands BEFORE they will 'let me know' if I can reinstate the contract. The guarantor must accept the debt before they know if the car will be returned.

Thanks!


Asked on 7/22/04, 6:33 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Repossession Question - Requirements for Post-Repossession Notice

Congratulations on your smartness in having looked up Civil Code whatever-it-is. (I have not looked this up and I will take your word for it that you are in the right.) What you need is to hire a lawyer to write a letter on lawyer letterhead, certified mail return receipt, reminding them as to the law, and enclosing a cashier's check for the correct amount if you know what it is, or else offering to immediately tender it. This should cost you a maximum of $50-$100. I am confident you will be able to find a hungry lawyer in your locality who will do this for you. Thereafter, if they do not allow you to reinstate the existing loan, sue them. Remember to do everything in writing and if you have a conversation with someone, get their name and write a confirming letter immediately (This will confirm our conversation of [date]... in which you said....)

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Answered on 7/23/04, 1:56 am


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