Vehicle repossession is inconvenient and worrisome, but it is possible to get your car back. After the repossession agent comes, the lender is to send the borrower a repossession notice, frequently called a Notice of Intent to Sell Property. This notice will inform the borrower of terms to get the vehicle back. Sometimes the lender will demand a full loan payoff, while other times, past due payments may be accepted. This notice informs the borrower of the vehicle’s location, the cost of repossession and any storage charges. The borrower usually has 30 days to arrange for retrieval of any personal property from the repo lot.
If the borrower can not meet the lender’s terms to get the car back, the lender will take steps to sell the vehicle at a private sale or auction. Once the vehicle is sold, the lender will send a notice which confirms the selling price of the vehicle along with any remaining balance due on the loan. This notice is called a Deficiency Notice.
Flitter Milz has pursued several class action lawsuits against lenders for improperly repossessing vehicles – whether the borrower fell behind on payments or not. Consumers across Pennsylvania, and in other states, have benefited from the results of these lawsuits.
For example, once the distribution period of a consumer class action settlement has ended, there may be funds left over, usually resulting from class members that could not be located, are incarcerated, have passed away, or simply did not cash or deposit the settlement check. The undistributed funds are considered for cy pres , and often designated for an organization that helps disadvantaged consumers.
The Pennsylvania Legal Aid Network (PLAN), and regional legal aid societies supported by PLAN, have been designated as recipients of cy pres awards from class action settlements pursued by Flitter Milz. These funds assist legal aid in their work to provide civil legal assistance and direct legal services for low-income Pennsylvania residents.
Attorney Cary Flitter was recognized with PLAN’s Excellence Award for pro bono achievements in 2013.
“Cary L. Flitter is a leading consumer protection lawyer and has trained many legal services attorneys in consumer law issues, has paid for legal services attorneys to attend consumer law training conferences, and directed significant amounts of cy pres funds to support consumer law practice at legal aid programs in Pennsylvania.”
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Borrowers have rights against lenders that have wrongfully repossessed vehicles. Flitter Milz is knowledgeable about the laws governing repossession of cars, trucks, motorcycles, boats and RVs. If your vehicle has been repossessed in the past six years by a bank or credit union, Contact Us for a free consultation.