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Bank TOOK my Truck unjustly

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Old 11-15-2006, 12:49 AM     #1
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Default Bank TOOK my Truck unjustly

I had a 2001 Dodge Ram Quad Cab which was listed at 21000 and change in 2000. I became unemployeed abruptly in 2005 due to discrimination issues, and I imediately informed my bank to see what if any options I had. I was told I could defer payment of principal payments for 2 months, and that the principal would be added to the end of the loan and assesed further finance charges. I requested that action be taken, and imediately set up the automatic payments through my online bank account. The following month I made my normal full payment of principal and interest, and all payments were sent and received ontime. At the end of the month in which I made my full payment, the bank came and repossed my truck. I paid over 24000 on the vehicle, and it was included in a bankruptcy that had been filed at the end of 2001. I had never missed a payment or been late with a payment, and when I called them they said that they had noted that I called to set up the interest only payments. I wrote the banks president, board of directors, better bussiness breau, and local TV station, with no help.
the bank stated that I faild to sign papers for the loan defferment, and that their policy was to not return a vheicle to anyone who was unemployeed. I offered to go to any branch office, sign any papers, and pay the principal and take the interest only payments the following 2 months, but they refused flately, and sold the vehicle 1 week later. Eventually they offered me 2000 dollars, and I was urged by the local tv station to take it as I would risk receiving nothing at all. I did finally take the 2000, but I signed and initialed the form that it was being signed under duress of receiving no compensation at all. Please tell me what you would suggest at this point, as the loss has costs me much more than just financial burden, and I made EVERY effort to "Do the right thing". I sold my house a week later and could have paid the truck off with the proceeds, but now I have no vehicle or anything else to show for the 24000 I worked so hard for, and had to go through 2 moves with out my truck which is primaerly why I purchased such a vehicle. At the time I had many other assets and a good credit history since my bankruptcy, as well as owned a home. Now due to the pursuit of justice against my former employeer, and the bank I have nothing but 2 jobs that can't afford me legal representation, but I don't want to wait forever or I'm affraid I will have that to account for as well in my pursuit. Are there any LAWS on the side of RIGHT anymore????
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Old 11-15-2006, 12:59 PM     #2
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Default Re: Bank TOOK my Truck unjustly

If they made an agreement with you and then violated it, you could sue for damages in small claims or other court--it seems they lied to you about the deferred payments based on what you have said here...
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