My car was being repossessed. What should I do next?

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asked on Dec 11, 2009 at 01:14
by   alan
edited on May 3, 2016 at 05:04
My car just been repossess by AmBank. I understand that its 2 months 21 days and I owed few months. The car is under my dad's name. I'm the guarantor. My dad suffered stroke and can't use the car as I'm making the payments and using it now.

Its like this... My due date is every 10th of the month. Today is the 10th. I was sending stock to my supplier then 2 guys stopped me and said I owe car loan and need to tow the car. I said I'm working now and will be paying after my work at 5pm. Then they showed me the repossession letter dated 10th December 4.27pm.

I've been paying the bank every 10th of the month for the pass 6 months, (I kept the receipts) why today so different? It is still the 10th, they came repossess my car at 4.55pm. Wow that was fast.. 'pakat' with bank meh? I was not given any warning or letters on my payment as I'm the guarantor. Don't tell me a simple call to warn me also can't?

So what can I do next? Pay the amount or fight the case?

Forget to add... I was been paying every 10th after 9 pm at cash deposit machine (CDM) machines. Just now after the car was being repossessed I can't bank in the money. Its stated "none authorize account." Last 6 months I paid without any problem, only today.

And the repossess men was so rude and even scared my girlfriend. They looked like gangster.
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answered on Dec 11, 2009 at 02:41
by   vkpc
You can pay the 3 months outstanding plus RM 1k repossession fees to take back your car.
Don't wait more than 21 days......
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answered on Dec 11, 2009 at 06:46
by   alan
edited May 3, 2016 at 05:20
How is it possible that AmBank issues the letter at 4.27pm and the repo men found my car in 28 minutes.

Was I being stalked? Can I make a police report on this? My car was not at home. I was at my suppliers shop located way outside town.

Unless I was stalked or followed.

By the way, I was not even given any notice for the repossession period.. "4th schedule".
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answered on Dec 11, 2009 at 11:28
by   notalawyer
If you were not sent the Fourth Schedule, it is an offense by the bank punishable by 6 months jail.
Are you sure you didn't change address?

Within about 7 days after repossession, the bank must send you the Fifth Schedule or it is another offense.
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answered on Dec 11, 2009 at 13:42
by   Anonymous
edited May 3, 2016 at 05:27
No point talking about this. This is how they work. They cannot take your car if your car parked at car porch (house). That's the rules. Just pay the outstanding and make sure you don't have outstanding more than 30 days. Now you have to pay more than your outstanding - parking fees, lawyer letter, for the repossessor and extra.
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answered on Dec 12, 2009 at 02:17
by   alan
edited May 3, 2016 at 06:07
Thanks for replying...

I paid the full amount today and took back my car. When I check my car inside was in a mess. They ransacked like trying to find something.

Money, I can get anytime but seriously after I took over the payments from my dad I was never late for payment. I did not miss a single month.

When my dad fell sick I took over the payments and did not know that is was 3 months due because I did not receive any phone calls or letters. I even kept all the payment receipts.

You know what, the bank officer told me, "Its your problem not ours.. so how? Do you want to redeem your car? Pay this this this... The bank can't help you on your matters. You think it over lah! I want to handle another customer's case."

They claim it was on my old address. I already moved or 'pindah' house 5 years ago. I remember I DID change the address 3 years back. The bank officer claims that (same old reply) "Its not my problem. Guess our system did not update it." My mom was there, imagine she was so upset. I did not inform my dad because he is very sick... been almost a year sick.


Forget it! I learned my lesson. I will be more cautious now.
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answered on Feb 3, 2010 at 05:59
by   Anonymous
edited May 3, 2016 at 06:23
I too got my car repossessed just today as I was just late in my payment. It is not that I didn't want to pay but my company is facing some financial difficulties so didn't get any salary for the last 4 months. They came with the letter date today date with time is just 12 minutes ago. Wah! How come they know where I was today? I guess they might have followed me to my customer place from my house as I had feeling that someone followed me when I left my house. Four gangster-look alike repossessors came attacked me with vulgar and nasty words. I called the bank and ask them if they could just give me 2 more days and I will settle the amount. But they said no way since the letter is out no way for them to retract the letter or the repossess job. I had to give in as I am lost on what I can do.

Understand that all the banks are the same when they hire car repossess people. By the way, I still had only 6 months left to pay off my car.
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answered on Sep 15, 2011 at 03:04
by   ouch
edited May 3, 2016 at 06:43
Wow! I faced the same situation last year. Without notice and call, the tow man came to my workplace to 'tarik' my Savvy. Frustrated I paid the amount and the next day I went to pay for 1 1/2 months to a nearest bank. The bank officer said he did call but my number was not in service. Believe it or not I was visited by 2 different tow "agents." That morning two person came asking for RM400. Then late in the evening around 5pm, another car from Lawas came to my house saying that they were instructed by AmBank Lawas to 'tarik' my Savvy. What is happening? My husband was so angry because we already paid the earlier tow "agents.' I show the letter from AmBank KK brought by the 1st agents... and the payment we made to the tow "agents". Luckily these men have some mercy to me. I can't wait to finish my Savvy installments.
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answered on Sep 30, 2011 at 05:21
by   bugsbunny
edited May 3, 2016 at 07:03
The reposessors are agents for the bank. If you see anyone with a laptop, looking at cars and punching car numbers than they are the repossessors. They have a list of all defaulted cars in there and all they do is wait. Once its confirm the car is due for repossession then they request for the repo order.

Recently government has amended the HP act whereby if a hirer has paid more than 75% of the cash price, the bank must get a court order to repossess the car. To get a court order it takes another 1 to 2 months and the bill is around RM1.2k to RM1.5k. So most banks will only apply if its worth it. Kancil or Proton Saga I think are safe lah...
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answered on Nov 9, 2011 at 01:30
by   mimo
edited May 3, 2016 at 06:57
The tow officer asked us to pay money, if not car will be tow by tow trucker. The money we paid goes into the tow officer pocket or bank? It is legal?
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answered on May 18, 2012 at 23:24
by   kitboy
edited May 3, 2016 at 07:32
Dear all,

I work in a finance company dealing with hire purchase (HP).  This is how it works:

1) If you defaulted in 1 month payment, the bank will send you 1st reminder.  Usually by call, SMS or letter.

2) If you defaulted in 2 months, a 4th schedule is out informing you that please make payment or face being repossessed. Bank will keep calling you, SMS you or send you the letter.

3) If 3 months defaulted, a 7 days notice is out and its called "controller" form, pink in color and its stated that within 7 days you must make payment. SMSs are being sent out, letters or even calls.

4) By the 8th day no response, (RO) repo order is out.

5) Those repo guys have a listing of all defaulted cars and they will ring once they found the defaulted in payment target cars to the bank to confirm. Once confirmed, the bank will fax the RO to the repo man. Nowadays repo man has notebook and printer attached with them for fast response.

6) Before they took your car or tow away, you can always tell the bank, I am making payment now and usually they gave you like a couple of hours to make the repayment else if your car in the process of being tow, the repo guy will called the bank to "stop payment", barring you from making payment.

7) Now when they have your car, the bank will send you a 5th schedule telling you that you have 31 days to redeem your car or else being auction off. If auction off and no shortfall, considered yourself lucky and if auctioned off and there is a shortfall, the bank will pass the case to credit recovery agencies usually.

8) When you redeem your car, basically you will have to pay your total months arrears outstanding, repo fee, legal letter, RO letter and storage.... It can be from RM2k and above depending your amount.

9) Just make sure you make payment promptly to your car loan on time and every letter the bank sends out will cost you.

Hope this help...cheers!
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