repossession but with acceptance of partial payment

This is a discussion on repossession but with acceptance of partial payment within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; I was a former senior officer of a bank in the Philippines. Part of my benefits then was a car ...

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Old Apr 28th, 2008, 05:57 AM   #1
Preci
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Confused repossession but with acceptance of partial payment

I was a former senior officer of a bank in the Philippines. Part of my benefits then was a car plan. The car was in the name of the Bank. The Bank car benefits policy stipulates that upon separation, the employee has the option to convert the car plan to commercial loan.

I left the Bank in the Philippines and moved in California last year. Before I left the country, 22 days after the effectivity of my resignation, i expressed that I will continue ownership of the car through bank comercial loan, and with an understanding that the Bank will provide me the exact amount of the monthly amortizations for the car. However, up to after 11th month since then, the Bank was unable to convert the plan to a loan, because of some documentary requirement that deters them from booking the loan and assigning an account number where payments may be credited.

I have a series of email exchanges with principals of the Bank folowing up directions on what to do, on how to pay, asking for the account number, following directions given to me (they required a consularized power of attorney which I knew only after around 7 months after), requesting a friend to forward an email of help to settle the documentation addressed to the HR Head, etc.

Today, after the Bank received at least 13% of the past due amount through one of its branches (an amount quoted by the account officer to be paid), and after I have emailed the Bank president explaining the history of the account, the Bank proceeded to repossess through a court sheriff the vehicle.

Do I have a case against the Bank granting all that have happened? All the transaction history shows that there was an intention to pay. Do I have a legal recourse to counter-sue the Bank because of the humiliation brought about to me by the repossession?

Thank you.
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Old Apr 29th, 2008, 12:12 PM   #2
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Default Re: repossession but with acceptance of partial payment

Hard to sue for humiliation in that type of case, but you may have a shot at any direct costs incurred if you can show that they agreed to do one thing and then actually repossessed instead.

You will have to have the facts very well documented.
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