I had a car repossessed after my payment was 41 days late. It was an oversight on my part and upon receiving the letter saying that I was late I sent out the full amount owed. They received and processed the payment on the 20th of January, and deposited it on the 21 of January. This amount was credited to my account with the lenderon the 24. This happened after I brought the mistake to teir attention. However on the 22 a friend had called me and said that the car was gone. He could place it there on the night of the 21st. After initially denying receiving the payment, they now say the car was repossessed on the 19th. Does my friend and other witnesses word have any weight in this case. If not is there any way to prove when the car was towed. Should I take whatever deal they are offering?
Repossession law is a creature of state law, and a slight change in facts can make a big difference in advice and outcome. You are in AZ and I am licensed to practice only in VA. However, a lot of your 'facts' don't 'knit together' really well: i.e., your vehicle was in someone else's possession when you made the payments. In my neck of the woods, that suggests the vehicle was being hidden from the creditor to avoid repossession which, in turn, suggests prior defaults and a default longer than 1 month+. However, most states do have statutes governing wrongful repo but you ought to have a consultation with a lawyer familiar with that area before acceding to any 'deal' offered by the creditor. Creditors assume you are not smart enough to hire a lawyer to determine your legal rights - don't make them right in YOUR case! :)