Santander Repo - Next Steps?

[mrdimplechin]

Hello.  What should my next steps be in regards to a Santander Auto Loan Repo?

Pennsylvania

Car repo'd on Tuesday 7/26/2016

Repo payment made on Wednesday 8/3 (PA gives 15 days)

?date - went to repo agent to get vehicle. Took $150 fee needed to get vehicle

Vehicle was already sent to auction (after I had already made the payment to Santander)

Contacted auction (1.5 hours away from where I live) and was told I could get the vehicle but I needed to to bring the tags with me to put back on the vehicle and $525 before I could take it

Auction told me tags and personal items had been removed from the vehicle prior to them receiving it

I contacted the repo agent and they denied taking personal items and tags

I went back and forth with Santander, the repo agent, and the auction about the personal items and tags

On 12/7 the car was sold by the auction. 

I never received any notice that the car was going to be sold.  I was never told when I was speaking with the auction &/or Santander that the car would be sold. And I was never contacted after it had been sold.  I didn't find out until I called on 1/3/2017

I contacted Santander and they said there was nothing they could do and they offered me a settlement for $2500 to cover the remaining balance owed.

This is now showing as a charge off on my credit report

So my question is what do I do now?  Contact the BBB?  Sue?  And do I go after Santander, the repo agent, and/or the auction?

Thank you in advance for any responses

[StartingOver10]

Welcome to MyFICO!

The following is going to sound harsh - but here are some of  the answers to your questions above:

• You didn't specify in your post if you were current with your payments or if your last payment was not enough to completely pay off the outstanding amount due to Santander
• I am assuming that you made a payment, but that you made it past the due date. Correct me if that assumption is not right.
• In the note you signed for the loan, there is a paragraph that details the lender's remedies if you default on your payment. A default occurs when you don't pay by the due date.  If you read the loan paperwork, you will see that the lender doesn't have to notify you before a repossession. The presumption is that you know the penalty for non-payment (because you read the loan paperwork). 
• The lender has to sell the collateral to mitigate your damages. They apply the proceeds to the outstanding balance, and you are responsible for paying the balance. If you don't pay the balance, the lender can get a judgment against you for the remaining deficiency. If the lender chooses to get a judgment, the judgment can last for ten years or 20 years - depending on your jurisdiction.  The judgment can be renewed for the same term, 10 to 20 years if it remains unpaid.  It accrues interest at the statutory rate the entire time it remains unpaid. The judgment remains in your public records forever - but if you pay it, a Satisfaction of Judgment is then recorded. The judgment may or may not show up on your credit report, 

As to your questions about the BBB and suing: what would the complaint to the BBB contain? What would you sue the lender or the repo agent or the auction company for? I am not being facetious. 

[mrdimplechin]

Thank you for your response.  I hope the below sheds a little more light on things and answers your inquiries

• The payment that I made after the car was repo'd satisfied what was due and the account was caught up.  The next 4 payments (Aug-Nov) were all paid on time and were for the full amounts due. December's payment was not made as the car was sold weeks before the payment due date
• My last payment (Nov) was paid on time and for the full amount due
• I do realize that they do not have to notify me prior to the car being repo'd. After the initial default when the car was first taken I was not late and payments were made in full.
• I am aware of the possible next steps taken (selling of vehicle) after repossession

In regards to the BBB, I read another post in this forum where someone contacted the BBB and the remaining debt was forgiven and the item was removed from their credit report.  Please see my 'problems' below as they would be detailed in my complaint.

In regards to possibly suing:

• I have a problem with my personal items 'disappearing' from the vehicle.  Neither the repo agent nor the auction are taking responsibility for the missing items. 
• I have a problem with the car being sent to the auction.  I made the payment in full to santander within the 15 days required for the car to not be sent to the auction.  The car was sent to the auction after I made the payment to Santander.  I do not feel the car should have been sent to the auction at all.
• I have a problem with the car being sold.  I was not in default and no one can tell me why it was sold.
• I have a problem with the communication.  I was never contacted about the car being sent to the auction.  I was never contacted and told the car would be sold at auction.  The worst part is I was in contact with both Santander and the auction during that time and nothing was ever said about the car being sold.  If I did not call on 1/3 I would have never known the car was sold.  To this day I still not have received any information about the sale of the vehicle.

Please remember that the only reason I did not pick up the vehicle from the auction is because they would not release it without me bringing the tags.  And the tags were missing as the auction stated they were not received with the vehicle and the repo agent stated that they did not take the tags.

[Anonymous]

In most States, when they repo a vehicle, if they do not follow all the steps required in the law (such as notice to the debtor, right to cure default, where the car is, how to redeem, etc) then they forfeit the right to collect any deficiency.

You ned to talk with a lawyer.

[Anonymous]

File complaint with bbs. Include all details and dates. I did the same and they removed the entire acct and apologized. Took about 2 weeks

[Anonymous]

---

@Anonymous wrote:
File complaint with bbs. Include all details and dates. I did the same and they removed the entire acct and apologized. Took about 2 weeks

---

Don't forget a complaint with the Consumer Finance Protection Bureau could be effective.

[Anonymous]

Beyond the issue of the personal items you don't really have a case.  You can put your energy into fighting something that already happened and you can't really win anything of significance or you can focus on repairing your credit history and getting back on your feet.  Since they offered you $2,500 to settle I would ask them to provide those funds and to remove all negative information from your credit report regarding this case.  If you can get them to do that you will have won something of significance.

Its a tough situation but they don't repo out of the blue and once they do your at their mercy.  Try to get them to remove the derogatory information off your report and if they do you can take that 2500 and get a new car and move on with your life.  Trying legal remedies in a case like this is really a no win and they will not remove anyting if you go that route, they won't even likely talk to you.

Best of luck, I hope you can turn this into a win.

[mrdimplechin]

The $2500 settlement offer was not funds they would give me.  It is what they want me to pay them to settle what is still owed on the loan.