What they are telling you is perfectly legal. The loan is closed. Making a few payments won't fix the loan. The vehicle is repossessed and property of the bank. I've dealt with this before. It's true. The bank will not deal with you, and there is nothing that can make them give a loan to anyone, once they close the old loan. Find a different bank that will give you a loan to buy the old vehicle back...or just move on.
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Submitted 33 days ago...
2004 Chevy Repossession
I had 2004 Chevy it was repo October 8, 2009 in Birmingham, Alabama. The bank told me I will have to pay 2450 to get the vehicle back. And I have until October 25, 2009 to pay that overdue balance. Now I have the money they said I can't pay for the car because the loan has been closed by the Bank since July 2009 , they say the only way I can get the vehicle back is to payoff the full balance on the loan. I want to know if this is legal in Alabama.
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Answer 1 / 1 - Submitted 26 days ago...
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Submitted 17 days ago...
Thank you for your answer, actually they exactly what you just told me and I have moved on. I have decided to start my own used car dealership so I can be like a bank.
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