Can a bank or repossessor report a vehicle stolen?

Question

I've been paying on my car loan for over 53 months without a hitch on a 60 month contract, lost my job 6 months back and couldnt afford to make 2 car payments which has now made my account 2 months delinquent even though I've started making regular payments again. The bank sent repossessors, the repossessor stated that the vehicle has been reported stolen and they need to recover it. Is this true? Can a Bank or Repossessor report a vehicle stolen?

Monthly payments are just a tad over 350.00, balance is around 2500-2800. My best guess is, instead of trying to work it out with me and let me make up 2 payments at the end of term which I can and am very willing to do, they assume just repo it, sell it for what the balance is, get there money quick and not give 2 bits about the 53 payments that have been made already. I'm going to present the repossesor with a voice recorder next time and see if he'd be willing to have our conversation recorded.

Answer 1

Sorry I have to laugh. Those guys will say anything. I am going to say that was just a line. They don't own the car, you do, even if there is a lien. Also that seems odd, if you have a small amount left, why would the bank want to repo the car? Do you still have the vehicle? If so, hide it, take the bus, or ask a friend to drive you back and forth to work for a few days. Then do what ever you have to do to get it paid off in full ASAP, if you can't pay that amount you have to make sure and get in writing your account is up to date and not out for repo.

Answer 2

2

Answer 3

That sounds pretty fishy to me. Did the repossessor take the car? I would guess not, since you don't sound all that upset about it.

Keep in mind that repossessors can say anything they want, lie through their teeth, if they are authorized by the bank to repossess the car. So I wouldn't take their word for something like that.

Answer 4

No this is fraud to make a false police report. Might need a lawyer to protect your car.