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I don't know what state you are in, but in Illinois the bank by law has to provide you with a calculation of deficiency. We are battling the bank for the same thing. Had a truck repo'd was worth 15K, owed 15K, they sold it for 8K and now say we owe 6800. I want to know how and they keep denying any information saying it's confidential bank information. Write a letter of complaint to whatever agency oversee's this bank and look under your state's statutes for what the bank is liable for and what they have to provide by law.

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โˆ™ 2015-07-15 21:26:15
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Q: Does the lender have to disclose what they are charging you for after a repossession?
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Related questions

Are the Lender of a repossession allowed to charge a storage fee and a repossession fee in the state of California?

In the state of California, the lender of a repossession may only charge fees that it incurs and that are in the contract. If the lender pays for the storage or houses the repossession, then yes, the lender is allowed to charge both a repossession and a storage fee.


What are the repossession laws in New York?

Repossession without judicial process is allowed if the lender has not breached peace. A lender repossessing an automobile must issue a notice to the borrower, and a lender can sell an item via public auction after repossession.


In Texas do you need a writ of repossession?

No, all that is necessary is a valid repossession order from the lender.


Can a lender disclose my credit report to my spouse with out my approval?

No.


Can a lender garnish wages after repossession in North Carolina?

Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.


Can auto repossession be negotiated?

The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.


How long does the lender has to redisclose on a home equity loan?

How long does a lender have to re-disclose to the consumer after a change in circumstance?


How do you get a car back from repossession?

It is sooo SIMPLE, you CONTACT the LENDER for further instructions.


If you are threatened with a repossession can you pay the balance before they repossess the car?

IF the lender accepts it you can.


Can a lender take legal action against the homeowner?

It's called repossession. The lender owns the property, the homeowner is making payments.


What is the concept of repossession about?

Is is common knowledge that the concept of repossession is the taking back of property by a lender or seller from the borrower or buyer, usually due to default.


Where can you find a repossession form?

For what state, lender, ect??? wonk at 14ma dot com

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