Complaint Review: JB Morgan Chase

"You must work for the company", "lawsuit", and "not going to respond again" all in 1 post.  And it took this one longer than normal to post them, too.  Overachiever!

In any case I am talking to a lawyer about this incident. I do not care what you call me Chicken Little or what ever. They  were wrong to access my car. They were wrong to change my locks and bill me for the changed locks when I have the keys and could give them willingly. I already have an appointment with an attorney who thinks differently . You all must have shares in a repo business or buy auctioned cars.

You will hear about this in the news. How about that ...................................

Car locks should not be tampered with during repossession unless they are certain that the customer will not be making payments. I even called these characters to inform them that I will be making the full payment Yet they chose not to respect my wishes. I do not see why you all can not see the rip off and disrespect of the customer. You must all be in the business of repossession. I have no more time to spent writing to knuckle heads.

Whether Fort Worth is in the moon or space, that ain't my problem. I sent my faxes to the aliens and they responded. My car is with me (hidden from plan sight and auto thieves who want to steal and drive it my car across the American boarder) and I can careless about the location of a bank that is going under water soon.

In any case I will not be responding to this emails again so do not bother to write. You thoughts are no longer relevant. I have found someone who is reasonable enough to know that I was wronged and that people should always be courteous even if the work they do is a curse ridden job.
Good Bye and Bye........

If you are worried that they made an extra key and kept it a secret, why don't you just change the locks?

"Vehicle Repossesion repoff Forth Worth... I was making partial payments... get justice for this fraudulent act"

You defaulted on the loan and the lender exercised their right to repossess the vehicle. Does the financial agreement contain a clause that indicates partial payments are accepted in lieu of full payments? They did not commit fraud and you were not ripped off.

Where is Forth Worth? I know where Fort Worth is.

I have changed the location of my vehicle and I am having to dispose of this car because I am afraid that somebody is coming to steal the paid off car from my residence
- Hey Chicken Little why not take a step back into reality.   When was the last time you heard about a thief caring if a car they are going to steal is paid off or not?  How exactly is it to their advantage to steal a paid off car compared to a car that a person is still making payments on?

But do you really think that if they wanted to take your car that they would need a key?  Most likely they only made one key.  But if you are that paranoid then I suggest you never give your key to another Valet or Mechanic.  You also better do a full background check the next time you buy a car because for all you know the dealer may have made a few extra keys.  You may even want to think twice about giving your key to a friend, who knows what is going through their mind.

Oh and you better be very careful about your next house/apartment because you have no idea how many keys the previous owner or realtor may have made.

You just said that it was unlawful for them change my car locks. I should not be made to pay for the changed locks since I did not resist surrender of my car or the locks. The car was "STOLEN" towed away from my residence. Right in front of the house I did not resist  surrender.  They did not ask for the keys I would have given them the car keys, there would have being no need to make new keys. I had to satr making calls to locate the vehicle. I currently do not have the full set of keys made. I was only given one new key. I am certain that they made a pair. Who is in possession of the remaining key Where they planning to come a steal my car at my house after I have paid for the car in full? I bought this car for security reasons.It is a Mecerdez  benz and I am told that it is difficult to pick the locks. The locks to my former car a Kia Spectra was often picked in Baltimore, MD where I worked so I changed my car for a more secured car - a Mecedez Benz. I have changed the location of my vehicle and I am having to dispose of this car because I am afraid that somebody is coming to steal the paid off car from my residence. Shouldn't they release all the keys that was made? Should I have to pay for the new keys despite the fact that I have made the full payments within the time frame allowed? Who is regulating this Fraudulent  Auto Industry. The fact that it is the practice and that the Uniform Commercial Code in most states protects this act does not make this madness correct. Are we all lacking and incapable of any common senses? Such injustice should be addressed by well meaning individuals. The fact that it does not affect you today does not means that sometime in the future you or a person close will not be affected by this predatory practice. In any case I am seeking independent justice Thank you

How come you could come up with $9050 to pay off the car loan AFTER they repossessed it but couldn't come up with enough money to make your full payments BEFORE they repossessed it?

They were ready to auction my vehicle immediately
- No they gave you 18 days.

My complain is that Chase Auto Finance, came at night and towed my vehicle away despite the fact that I was making partial payments
- Where in your contract does it say it is okay to only make partial payments?

No only did they steal the car from my premises they forced open my car and replaced the keys
- You of course reported the theft to the police.  So what did the police say?

If the logic of repossession was that the individual could no long pay the loan and the car must go to auction why then should they be made to pay the remaining balance.
- Because when you got the loan you agreed to this.

Repossession is a risk Chase Auto Finance chose to take and the liability should theirs.
- What the heck does this mean?  Chase decided to take a risk on you by loaning you several thousand dollars to purchase a car.  As part of this risk they maintain the right to Repossess THEIR car if you fail to meet up with your terms.  Oh and yes until you pay off the loan it is not your car.

I was with you until you got to the part about the auction.
I understand you lost your job and times are tough, I can sympathize with that.  But it is certainly written into any car loan contract - if they take your car to auction YOU owe the difference between what they get for the car and what you owe.  A car loan is about you taking a risk, the people making the loan are not writing risk for themselves into the loan agreement.  That is just the way things are.
You might have something actionable if you could prove they were slanting the auction in favor of friends and lower sales prices, but I doubt that is true.  Isn't it a public auction?  Do they limit who can attend?
Repossession is an ugly part of the car business, but they are certainly within their rights to do it.

I see nothing in your report that indicates any law was broken.  In fact, every auto loan contract I have ever seen states that full payment is due on the due date and that if full payment is not received, the bank has the right to repossess the car.  You admitted that you were only making partial payments, that is why they repossessed.

Every contract also states exactly what will happen in the event of a repossession.  Read your contract.  It should state exactly what you agreed to when you signed.  Unfortunately, what you have stated here is what most banks do as it follows the Uniform Commercial Code in most states.

Your only ways out of the loan now is either bankruptcy(slim chance if any), or to hope the bank does nothing until the statute of limitation is up on the loan.

The only part of your post that seems reasonable is the charge for changing the locks. I think they should have waited to see if you would make that final loan payoff.

You must have gotten the car back since you paid off the loan, right?

People seem to forget that these companies are in business to make money and have stockholders to answer to. They are under no obligation to work with you if you lose your job. Sure, it would be nice if they would. And it seems that in the long run they would make more money. But you signed a contract to make regular monthly payments of a given amount and you failed to live up to that. It doesn't matter (from a business perspective) that you were making partial payments.

They now ask that the initial loan borrower from whom they had repossessed the car pay for the remainder of the loan amount after subtracting the auctioned price. If the logic of repossession was that the individual could no long pay the loan and the car must go to auction why then should they be made to pay the remaining balance.

Let's turn this around. Why should the company have to eat the loss?  Again, you signed a contract and it's perfectly fair (and legal) for them to recover any costs after the auction.

I'm sorry, but I just don't see the rip off here.