I am 4 weeks behind on my car note. They sent me a letter stating I have to pay this in a week from today! So by June 11th or they will initiate the repossession process. I may be wrong but I thought I had 21 days from my first letter before they can take it? This bank is basically giving me a week to come up with money I do not have. I called them and they will not work with me and gave me til Friday the (8th) to come up with a resolution. Help!
You are correct, the lender is required to give you 21 days in which to cure the default before they attempt to repossess the vehicle. However, the 21 days is measured from the date they send the letter, not the date you receive it. Is it possible it got delayed in some way? In addition, when they have sent notice of default letters three times and you have cured the default all three times, they are not required to send any more notice of default letters before repossessing the vehicle.
If they failed to give you the proper 21 day notice, their repossession, if any, will be unlawful, but you will most likely only raise that issue if they try to sue you for the deficiency. That does not help you keep possession of your car now.
The biggest issue I see here is that the lender is not willing to work with you. You need to get their attention and in order to do so you probably need to get a lawyer to contact them on your behalf.
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