Consumer complaint received 2024-01-02
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Repossession
Sub-issue: Deficiency balance after repossession

Complaint:
XXXX XXXXXXXX : When any goods have been repossessed after default in accordance with XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX, the seller or holder shall not be entitled to recover a deficiency against the buyer unless within XXXX days after said repossession he forwards by registered or certified mail or statutory overnight delivery to the address of the buyer shown on the contract or later designated by the buyer a notice of the sellers or holders intention to pursue a deficiency claim against the buyer. The notice shall also advise the buyer of his rights of redemption, as well as his right to demand a public sale of the repossessed goods. In the event the buyer exercises his right to demand a public sale of the goods, he shall in writing so advise the seller or holder of his election by registered or certified mail or statutory overnight delivery addressed to the seller or holder at the address from which the sellers or holders notice emanated, within XXXX days after the posting of the original sellers or holders notice. 
XXXX XXXXXXXX : When any motor vehicle has been repossessed after default in accordance with XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX, the seller or holder shall not be entitled to recover a deficiency against the buyer unless within XXXX days after the repossession he or she forwards by registered or certified mail or statutory overnight delivery to the address of the buyer shown on the contract or later designated by the buyer a notice of the sellers or holders intention to pursue a deficiency claim against the buyer. The notice shall also advise the buyer of his or her rights of redemption, as well as his or her right to demand a public sale of the repossessed motor vehicle. In the event the buyer exercises his or her right to demand a public sale of the goods, he or she shall in writing so advise the seller or holder of his or her election by registered or certified mail or statutory overnight delivery addressed to the seller or holder at the address from which the sellers or holders notice emanated within XXXX days after the posting of the original sellers or holders notice. 
In the event of election of such public sale by the buyer, the seller or holder shall dispose of said repossessed motor vehicle at a public sale as provided by law, to be held in the state and county where the original sale took place, or the state and county where the motor vehicle was repossessed, or the state and county of the buyers residence, at the sellers election. 
XXXX XXXXXXXX : After default, a secured party may take possession of the collateral and without removal, may render equipment unusable and dispose of collateral on a debtor 's premises under Code Section 11-9-610. A secured party may proceed under subsection ( a ) of this code section : ( 2 ) without judicial process if it proceeds without breach of the peace. If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties. 
XXXX XXXXXXXX : After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by XXXX or more contracts, as a unit or in parcels, and at any time and place and on any terms. 
USAA Federal Savings Bank has disregarded the above listed XXXX  codes in regard to repossesses after default. USAA FSB did in fact issue me a notice that it was going to repossess my vehicle upon nonpayment of the default it claimed I was in ; however, that was the XXXX and only notice I received from USAA FSB concerning the repossession of my property. I do not recall the exact date, but the time was approximately XXXXXXXX XXXX during the last week of XX/XX/2019 when the vehicle was stolen by USAA FSB under false pretenses. The business did not deliver to me any notice of intent to collect deficiency, nor was I made aware of the final disposition of the vehicle after its repossession and sell. USAA FSB continues to make claims that I owe a deficiency of XXXX on a principal balance of XXXX. I have made multiple requests to the institution for copies of my account statements and payment history so that I can verify the payments I made, but it is my concern that USAA FSB has deleted said records.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation