Legal Question in Civil Litigation in Illinois

Repossessed...then sued on acceleration clause? Unjust?

While unemployed, my vehicle was repossessed in January 2003. Now, in May, I am being sued by the lending bank citing an acceleration claudse triggered by their deeming themselves ''insecure'' due to not having gotten the title from the selling dealership. The dealership is out of business, and apparently under investigation for various practices by the Sec of State Investigations unit. They have the car...now they want $22,000 + from me. Since they posess the vehicle, wouldn't an additional $22,000 judgement be an unjust enrichment?


Asked on 5/28/03, 1:02 pm

1 Answer from Attorneys
Jay Edelson KamberEdelson

Re: Repossessed...then sued on acceleration clause? Unjust?

There are some very strong consumer protection laws in Illinois protecting people who have their cars re-possessed. If the repo company violated any of these laws (and there is at least some reason based on your e-mail to believe they may have), then you may be in a very good position legally.

Additionally, the bank's "accelleration clause" may be an illegal penalty.

In order to fully evaluate these issues, I would need to see (1) the repossession notice you received and (2) the contract that the bank is relying on.

I do not charge any money for evaluating your case (and if we decided we were interested in representing you, we would do so on a contingency basis, that is you would not have to pay us unless we recovered money for you.)

Please feel free to call me at 312-913-9400.

Best regards,

Jay Edelson

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Answered on 5/28/03, 1:15 pm


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