Complaint Review: Wachovia

I had a verbal contract, called 800 number with late payment arrangements, with Wachovia after receiving notice of repossession.  I was late for the first time in December 2007, notice received within two weeks of late.  Arrangements were made to make payments and catch up the one payment behind with Income Tax Refund when received.  Bought vehicle in October 2006, first time late, continued paying through April 2008. 

Tow truck pulled in my yard in April.  Driver noted paperwork that payment was 31 days late.  Vehicle ws sold on auction at 47 days.  All attempts to contact company to make arrangements for vehicle returned were unsuccessful.  Even called the President of Wachovia to no avail.  Verbal contract was not acknowledged and balance in full was demanded for return of vehicle.  All they did was get three more monthly payments from me before repossessing as threatened. 

I understand "Default" is legal, unethical, but legal.  I am old enough to have paid off four vehicles in my past.  I have been late on loans in the past.  We do not consider one payment late as serious enough to warrant repossession, but it is legally default.

If I can find out how, I will sue Wachovia for unethical and malicious business practices.  I had faith that my verbal contract was valid.  I trusted the late payment issue was resolved.  The shock and distress of having the tow truck pull into my yard to hook up my vehicle, thus my inability to get to work, was life altering, not to mention my ruined credit.

At my age, and the state of our current economy, I will never recover from this.