Full Version: South Dakota Repossession
Hello All, I have a very tricky question to ask and figured if anyone can answer it it'll be on this board, I have a freind who left for basic training to enter the army res. while he was gone his wife desided to divorce him and not pay any of his bills, she called the bank in North Dakota and told them to come get the car, she was not on the loan or title, and she didn't have his permission to call and tell the finace company to come pick up the vehical, the amount he owned was 7500 and after they sold his car they said he owed 5900, they never sent any papers to him, also the car was taken from a Indian rez and the people i talk to say they (bank) need permission to come on tribal land and repo a car, their aren't to many lawyers in our neck of the woods so it has been very difficult to get any advice, thanks for any help you can provide.
On behalf of CreditBoards Admin, MarvBear would like to extend a sincere and warm welcome to the Automotive Forum.
We have an Automotive FAQ (Frequently Asked Questions) section that should prove to be very helpful in your automotive knowledge quest.
In the Reading and Resource Section of this forum, which is a read only forum, you can look up information regarding Sales Tax by State, Lemon Laws by State, along with a number of industry specific topics very relevant from the dealership's perspective.
In the main section of this forum, there are two pinned topics both of which are read only topics. The first concerns Bank and Credit Union rates and tiers. You might find this useful in predicting an interest rate on your next vehicle purchase. The second is a general purpose credit application that you can use to get an idea if you might qualify for an automotive product loan based on an insider's perspective of the information you provide.
You, as a consumer, have a unique advantage to "pick my brain"as I have been in the Automotive Industry since 1972. I will endeavor my utmost to give you up to the minute information and explain any insider workings you may question.
Due to time constraints on my part, I may not always be available to answer your question right away. Don't be discouraged, this is a very busy board. If some extended time goes by without a reply, feel free to reply to your own post by typing the word *bump*. This will *bump* your post back up to the top of the forum where it is more easily seen.
We make every effort to maintain a warm and friendly, and particularly non-judgmental attitude here on CreditBoards. If you find someone is discourteous to you, use the REPORT button located at the bottom of every post-that will ensure that either I or another moderator or Admin looks at the post and decides if it is against our TOS.
Off-topic posts should go in the General Forum. And if you are a credit newbie, take a glance at our Newbies Section.
Come get your new keys!
HAPPY
MOTORING
CB Admin: LKH, Pam, radi8, breeze
CB Mods: cotterpin, CargoJon, CramitCCCA's, fla-tan, MarvBear, psp, pryan67
Forum Leads: TeeSharice, orangecrush and Four20Nik
We have an Automotive FAQ (Frequently Asked Questions) section that should prove to be very helpful in your automotive knowledge quest.
In the Reading and Resource Section of this forum, which is a read only forum, you can look up information regarding Sales Tax by State, Lemon Laws by State, along with a number of industry specific topics very relevant from the dealership's perspective.
In the main section of this forum, there are two pinned topics both of which are read only topics. The first concerns Bank and Credit Union rates and tiers. You might find this useful in predicting an interest rate on your next vehicle purchase. The second is a general purpose credit application that you can use to get an idea if you might qualify for an automotive product loan based on an insider's perspective of the information you provide.
You, as a consumer, have a unique advantage to "pick my brain"as I have been in the Automotive Industry since 1972. I will endeavor my utmost to give you up to the minute information and explain any insider workings you may question.
Due to time constraints on my part, I may not always be available to answer your question right away. Don't be discouraged, this is a very busy board. If some extended time goes by without a reply, feel free to reply to your own post by typing the word *bump*. This will *bump* your post back up to the top of the forum where it is more easily seen.
We make every effort to maintain a warm and friendly, and particularly non-judgmental attitude here on CreditBoards. If you find someone is discourteous to you, use the REPORT button located at the bottom of every post-that will ensure that either I or another moderator or Admin looks at the post and decides if it is against our TOS.
Off-topic posts should go in the General Forum. And if you are a credit newbie, take a glance at our Newbies Section.
Come get your new keys!
HAPPY
MOTORINGCB Admin: LKH, Pam, radi8, breeze
CB Mods: cotterpin, CargoJon, CramitCCCA's, fla-tan, MarvBear, psp, pryan67
Forum Leads: TeeSharice, orangecrush and Four20Nik
Oh, my! Seems like there's a lot of people that need to answer for this repo. If he's still in the military tell him to use the Military lawyers. I guarantee they would love to speak with the Bank's representative concerning this matter.
Please tell me they are not trying to collect a d/b from him....oh, my!
Please tell me they are not trying to collect a d/b from him....oh, my!
QUOTE(Frisbee @ Nov 4 2006, 02:03 PM) 
Oh, my! Seems like there's a lot of people that need to answer for this repo. If he's still in the military tell him to use the Military lawyers. I guarantee they would love to speak with the Bank's representative concerning this matter.
Please tell me they are not trying to collect a d/b from him....oh, my!
Please tell me they are not trying to collect a d/b from him....oh, my!
Thanks Frisbee, I will tell him to try that, sorry but I don't understand what you mean by d/b, sorry
d/b means (I'm sorry for the shorthand) deficiency balance.
The d/b is the result of payments due at repo minus the amount obtained at the auction of the vehicle PLUS any/all fees associated with the repo/sale.
The d/b is then charged to the person(s) who signed the installment contract.
The d/b is the result of payments due at repo minus the amount obtained at the auction of the vehicle PLUS any/all fees associated with the repo/sale.
The d/b is then charged to the person(s) who signed the installment contract.
QUOTE(Frisbee @ Nov 6 2006, 08:12 AM)
d/b means (I'm sorry for the shorthand) deficiency balance.
The d/b is the result of payments due at repo minus the amount obtained at the auction of the vehicle PLUS any/all fees associated with the repo/sale.
The d/b is then charged to the person(s) who signed the installment contract.
The d/b is the result of payments due at repo minus the amount obtained at the auction of the vehicle PLUS any/all fees associated with the repo/sale.
The d/b is then charged to the person(s) who signed the installment contract.
Ok thanks, thats kind of what i was thinking you meant,
Tell you what really sticks out here, you say he had payments left totalling $7,500.
They repo/sell the vehicle and he still owes $5,900.00.
That means that the selling price of the vehicle was under $1500.00...probably closer to $1,000.00 after you deduct storage fees, towing, auction fees, etc.
Unless this car was a wreck, I'd be looking into the fact that on TOP of EVERYTHING else, this sale was not commercially reasonable.
Tell him to pull the carfax to get date/place of sale.
Then, try and get a price the vehicle "would" sell for if he was selling it. Print that out. The price he gets for selling himself does not obligate the secured seller to get the same price. However, IF there is a HUGE difference, I'd call BS!!!!
They repo/sell the vehicle and he still owes $5,900.00.
That means that the selling price of the vehicle was under $1500.00...probably closer to $1,000.00 after you deduct storage fees, towing, auction fees, etc.
Unless this car was a wreck, I'd be looking into the fact that on TOP of EVERYTHING else, this sale was not commercially reasonable.
Tell him to pull the carfax to get date/place of sale.
Then, try and get a price the vehicle "would" sell for if he was selling it. Print that out. The price he gets for selling himself does not obligate the secured seller to get the same price. However, IF there is a HUGE difference, I'd call BS!!!!
You know what? I'm really angry over this thread. Guy goes into the Military and gets screwed with...not on my watch!
From www.lawdog.com
Secured Transactions:
The State of South Dakota adopts the provisions of the Uniform Commercial Code in secured transactions.
A creditor generally is entitled to recover possession of collateral upon the default of a debtor on a secured transaction. In obtaining possession of collateral, a creditor may do so without judicial process if it can be done without breach of the peace or by judicial action. (Section 57A-9-503.)
After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner. (Section 57A-9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.
The disposition of the collateral may be conducted by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 57A-9-504(3).) A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency. (Section 57A-9-502
Those are broken laws....just for starters. Make sure he understands so he can tell the attorney that this is NOT contract law it is a UCC issue. The contract was voided by the act of the repossession.
Get lawsuit going against everybody here. D/W is in trouble...
From www.lawdog.com
Secured Transactions:
The State of South Dakota adopts the provisions of the Uniform Commercial Code in secured transactions.
A creditor generally is entitled to recover possession of collateral upon the default of a debtor on a secured transaction. In obtaining possession of collateral, a creditor may do so without judicial process if it can be done without breach of the peace or by judicial action. (Section 57A-9-503.)
After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner. (Section 57A-9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.
The disposition of the collateral may be conducted by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 57A-9-504(3).) A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency. (Section 57A-9-502
Those are broken laws....just for starters. Make sure he understands so he can tell the attorney that this is NOT contract law it is a UCC issue. The contract was voided by the act of the repossession.
Get lawsuit going against everybody here. D/W is in trouble...
QUOTE(Frisbee @ Nov 6 2006, 01:22 PM)
You know what? I'm really angry over this thread. Guy goes into the Military and gets screwed with...not on my watch!
From www.lawdog.com
Secured Transactions:
The State of South Dakota adopts the provisions of the Uniform Commercial Code in secured transactions.
A creditor generally is entitled to recover possession of collateral upon the default of a debtor on a secured transaction. In obtaining possession of collateral, a creditor may do so without judicial process if it can be done without breach of the peace or by judicial action. (Section 57A-9-503.)
After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner. (Section 57A-9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.
The disposition of the collateral may be conducted by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 57A-9-504(3).) A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency. (Section 57A-9-502
Those are broken laws....just for starters. Make sure he understands so he can tell the attorney that this is NOT contract law it is a UCC issue. The contract was voided by the act of the repossession.
Get lawsuit going against everybody here. D/W is in trouble...
From www.lawdog.com
Secured Transactions:
The State of South Dakota adopts the provisions of the Uniform Commercial Code in secured transactions.
A creditor generally is entitled to recover possession of collateral upon the default of a debtor on a secured transaction. In obtaining possession of collateral, a creditor may do so without judicial process if it can be done without breach of the peace or by judicial action. (Section 57A-9-503.)
After a debtor's default, a secured creditor may sell, lease or otherwise dispose of the collateral in a commercially reasonable manner. (Section 57A-9-504.) Any time before the disposition of the collateral, a debtor may have a right to redeem the collateral by tendering full payment of the obligation owed and all reasonable expenses incurred by the creditor.
The disposition of the collateral may be conducted by public or private sale. Reasonable notice of the time and place of the sale is generally required to be given to other secured creditors and the debtor. (Section 57A-9-504(3).) A creditor must account to the debtor any surplus, and unless otherwise agreed, the debtor generally may be liable for any deficiency. (Section 57A-9-502
Those are broken laws....just for starters. Make sure he understands so he can tell the attorney that this is NOT contract law it is a UCC issue. The contract was voided by the act of the repossession.
Get lawsuit going against everybody here. D/W is in trouble...
Thank you Frisbee, yea It really tick's me off too that the Credit company would do this to a guy who is in the service, this guy went to the Army with hopes of going to Iraq to do his part while everybody he knew told him not to, the guy was making 28.oo an hour at his job and gave up everything to go into the Army and do his part for his county he this is what he gets! but the bad part up here in South Dakota is their isn't any laywers who do this kind of stuff, thats the problem we're having now, don't know where else to look for legal help, can you or anyone else give us a lead on who we could contact besides the Army, the Army is not even calling him back. Thanks.............................BIGGI
What did his now ex do with the money he gave her to make the car payments? Kind of a stretch but it could be considered a case of criminal fraud and the police could be called in.
From www.naca.net.(see link below) These are consumer lawyers. There is only one, but call him. Keep him on the phone UNTIL he LISTENS.
Use the UCC sections I outlined here to explain to him that this is an illegal repo with possible Fraud chaser!!!!
Make sure to tell him about the Military Service also.
IF he's not interested MAKE him give you another lawyers name who may be more helpful.
http://www.naca.net/db.php3
Put in S. Dakota, takes you to the next page with one lawyer listed in Rapid City. Click "view details".
Good luck.
Use the UCC sections I outlined here to explain to him that this is an illegal repo with possible Fraud chaser!!!!
Make sure to tell him about the Military Service also.
IF he's not interested MAKE him give you another lawyers name who may be more helpful.
http://www.naca.net/db.php3
Put in S. Dakota, takes you to the next page with one lawyer listed in Rapid City. Click "view details".
Good luck.
You know what? Call your Congressman. Scream bloody blue murder until someone tells you they will follow up on this. A call from a Congressman's office usually bring immediate action....been there, done that.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.