Canadian Vehicle Repossessed - A Bad Story
I certainly hope this story will provide some good material from the experience I recently endured when I found I was in default of my vehicle payments and my car was repossed.
After 37 years of vehicle ownership and never once knowing a day without owning my own wheels.
Money was never easy and I knew it was a luxury to keep up payments, insurance and the maintenace but I waitressed, cleaned apts. and worked hard to somehow continue managing to buy, finance or lease something affordable I was ableto meet the payments on.
I wanted to share that about myself because unlike most who have had a vehicle repossed it's because of financial hardships generally associated with job loss, divorce, buying what they really couldn't afford to pay and many unfortunate reasons are legitate.
I wish I could find something similar to justify the reasons I found myself in this humiliating tragedy.
I think anyone reading this may agree it was brutal and unreasonable to take the action that Scotia Advantage Inc. felt neccessary.
I'm not going to be in a finaacial position to again ever finance anything because I'm certain the car was auctioned off and sold ridiculously cheap so I will be faced with paying that debt difference still owing.
It was a 2002 Ford SE Wagon in excellent condition and low milage with new tires all around and no mechanical problems. My payments of $256.- monthly were always paid on time for the three almost closer to the four years I paid into into it.
I had a year and 5 months remaining but I was paying huge interest off to keep the payments low over the five year loan.
Originally it was financed through a dealership with what I read later in the papers was accused of many illegal sales tactics but that's another story worth investigating but to late to do much about. After a year or so the financing was handed over to HSBC., the problems and comunication unravelled when Scotia Advantage bought HSBC out and I had just moved to Calgary.
Vancity is strictly a crdit union operating in Vancouver.
Since I've been banking with them for many years, I naturally have had my direct deposits come into the account and maintained without change my car payments come out as automatic and this accoount has always self managed these for years. I had no reason to change or interrupt this account during the process of moving back between the provinces and I was careful to keep this bank updated with my address or telephone info as it changed.
I assumed anything associated with my finances was running well and without communication through mail or by phone Scotia bank Advantage Inc now holding this loan could not be provided the current address or changes because of the policiy banks refuse to share.... with another finance company?? I thought all banks exchanged this information but apparenetly consent is required and Scotia Bank Advantage did not recieve the current HSBC update which should have been forwarded and wasn't..
Suddenly two months in default was a problem they simply no longer attempt to put the third payment through.
That's the reason the third payment sat dormant in my account.
I initiated the contact and made the calls immediately to rectify this with Scotia Advantage.
I spoke with representatives and account Managers. I explained the truth and how this had honestly got past me and I was simply too busy once again moving back to BC after living so briefly in Calgary which was the reason I failed to notice my car payments were short twice.
It clearly was unacceptable and they continued asking why I would have failed to notice it.
I asked them why would I demonstrate every other responsibility and ignore this obligation?
I spent thousands on expenses and paid all costs when at the time I was in default, if I had knowledge I was in arrears at this time I would have had the finances to pay just 2 small payments. I was financially able to pay out almost $7,000.- in expenses why would I intentionally not pay up my account.
I was always responsible and extremely busy transferring and registering my vehicle with each province, and changing insurance, as well as licenceing both myself and the vehicle each time.
I had also been preoccupied with not only locating, and finacing deposits and expenses in renting accomodations but also shipping huge households of my furniture, add another curve ball of $800.- to pay for emergency surgery for my loving pet and add the time and costs to travel back and forth between provinces chasing my money in a small claims action I eventually won.
Why would I be out buying a couple thousand in additional furnishings and not want to make my car payment? I did not think I had car payments in default isn't that obvious?
All the time I had numerous mail, banking and household services updated and informed with new address and numbers why was I so difficult to locate that you had to put a skip tracer on me and still not have current info. I had a valid drivers license with current address info anyone could have found if they were trying to notify me.
I was doing my best and so sincere when trying to focus paying evey Shaw, Hydro, and Visa account this moving always involved.
Payment schedules with more accounts that required reasons to open more confusing issues because I had to have seperate banking instituitions between both cities.
When I contacted this finace company I was going into 3 months and 2 weeks in arrears. I was also just 5 days away and asked to send that payment as well.
explained I was now broke and could not forward the now $1,200.- payment they required immediately. I asked if they would consider pushing this payment back and I could simply extend it with additional payments and will you consider this?
I was denied the option given no others and still I didn't give up. I asked to have an collection agency account Mgr. later a supervisor hopefully someone who could authorize this.
I was refused and asked them if they would give me 2 weeks so a friend of mine was paid and could loan the full payment. I was denied that slso.
I remained polite, in control and somehow later relieved to think I would get this payment and suddenly just 3 days later I had a baliff remove my car. I now owed another $1,000.- in fees and this was the time the wind came out of my sails. I feel humiliated and such a loser. I was devasted and still haven't told many friends I have no car, I'm ashamed of myself.
Well,
I'm sorry this was so lenghty and I rattled on and on.
I don't know if this will be of any use to your friend who asked you to encourage others to write.
Thank you for asking us to share our story and let me know if it was any thing he thought worth even using.
Sincerly,
Darcel Collinson
I certainly hope this story will provide some good material from the experience I recently endured when I found I was in default of my vehicle payments and my car was repossed.
After 37 years of vehicle ownership and never once knowing a day without owning my own wheels.
Money was never easy and I knew it was a luxury to keep up payments, insurance and the maintenace but I waitressed, cleaned apts. and worked hard to somehow continue managing to buy, finance or lease something affordable I was ableto meet the payments on.
I wanted to share that about myself because unlike most who have had a vehicle repossed it's because of financial hardships generally associated with job loss, divorce, buying what they really couldn't afford to pay and many unfortunate reasons are legitate.
I wish I could find something similar to justify the reasons I found myself in this humiliating tragedy.
I think anyone reading this may agree it was brutal and unreasonable to take the action that Scotia Advantage Inc. felt neccessary.
I'm not going to be in a finaacial position to again ever finance anything because I'm certain the car was auctioned off and sold ridiculously cheap so I will be faced with paying that debt difference still owing.
It was a 2002 Ford SE Wagon in excellent condition and low milage with new tires all around and no mechanical problems. My payments of $256.- monthly were always paid on time for the three almost closer to the four years I paid into into it.
I had a year and 5 months remaining but I was paying huge interest off to keep the payments low over the five year loan.
Originally it was financed through a dealership with what I read later in the papers was accused of many illegal sales tactics but that's another story worth investigating but to late to do much about. After a year or so the financing was handed over to HSBC., the problems and comunication unravelled when Scotia Advantage bought HSBC out and I had just moved to Calgary.
Vancity is strictly a crdit union operating in Vancouver.
Since I've been banking with them for many years, I naturally have had my direct deposits come into the account and maintained without change my car payments come out as automatic and this accoount has always self managed these for years. I had no reason to change or interrupt this account during the process of moving back between the provinces and I was careful to keep this bank updated with my address or telephone info as it changed.
I assumed anything associated with my finances was running well and without communication through mail or by phone Scotia bank Advantage Inc now holding this loan could not be provided the current address or changes because of the policiy banks refuse to share.... with another finance company?? I thought all banks exchanged this information but apparenetly consent is required and Scotia Bank Advantage did not recieve the current HSBC update which should have been forwarded and wasn't..
Suddenly two months in default was a problem they simply no longer attempt to put the third payment through.
That's the reason the third payment sat dormant in my account.
I initiated the contact and made the calls immediately to rectify this with Scotia Advantage.
I spoke with representatives and account Managers. I explained the truth and how this had honestly got past me and I was simply too busy once again moving back to BC after living so briefly in Calgary which was the reason I failed to notice my car payments were short twice.
It clearly was unacceptable and they continued asking why I would have failed to notice it.
I asked them why would I demonstrate every other responsibility and ignore this obligation?
I spent thousands on expenses and paid all costs when at the time I was in default, if I had knowledge I was in arrears at this time I would have had the finances to pay just 2 small payments. I was financially able to pay out almost $7,000.- in expenses why would I intentionally not pay up my account.
I was always responsible and extremely busy transferring and registering my vehicle with each province, and changing insurance, as well as licenceing both myself and the vehicle each time.
I had also been preoccupied with not only locating, and finacing deposits and expenses in renting accomodations but also shipping huge households of my furniture, add another curve ball of $800.- to pay for emergency surgery for my loving pet and add the time and costs to travel back and forth between provinces chasing my money in a small claims action I eventually won.
Why would I be out buying a couple thousand in additional furnishings and not want to make my car payment? I did not think I had car payments in default isn't that obvious?
All the time I had numerous mail, banking and household services updated and informed with new address and numbers why was I so difficult to locate that you had to put a skip tracer on me and still not have current info. I had a valid drivers license with current address info anyone could have found if they were trying to notify me.
I was doing my best and so sincere when trying to focus paying evey Shaw, Hydro, and Visa account this moving always involved.
Payment schedules with more accounts that required reasons to open more confusing issues because I had to have seperate banking instituitions between both cities.
When I contacted this finace company I was going into 3 months and 2 weeks in arrears. I was also just 5 days away and asked to send that payment as well.
explained I was now broke and could not forward the now $1,200.- payment they required immediately. I asked if they would consider pushing this payment back and I could simply extend it with additional payments and will you consider this?
I was denied the option given no others and still I didn't give up. I asked to have an collection agency account Mgr. later a supervisor hopefully someone who could authorize this.
I was refused and asked them if they would give me 2 weeks so a friend of mine was paid and could loan the full payment. I was denied that slso.
I remained polite, in control and somehow later relieved to think I would get this payment and suddenly just 3 days later I had a baliff remove my car. I now owed another $1,000.- in fees and this was the time the wind came out of my sails. I feel humiliated and such a loser. I was devasted and still haven't told many friends I have no car, I'm ashamed of myself.
Well,
I'm sorry this was so lenghty and I rattled on and on.
I don't know if this will be of any use to your friend who asked you to encourage others to write.
Thank you for asking us to share our story and let me know if it was any thing he thought worth even using.
Sincerly,
Darcel Collinson
