Consumer complaint received 2023-09-22
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Repossession
Sub-issue: Account reinstatement or redemption after repossession

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Bank of America XXXX Bank of America XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX XX/XX/XXXX Please Note : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Unauthorized Repossession of My SUV and Unlawful Actions by XXXX XXXX XXXXXXXX XXXX XXXX To : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I am writing to express my dissatisfaction and concern regarding the recent unlawful repossession of my SUV, which is associated with Bank of America account # XXXX. I am appalled by the actions of Bank of America and its agents and of the repo company, XXXX XXXX XXXX XXXX XXXX and its agents, which have not only breached our contractual agreement but also treated me in an extremely unjust and unethical manner. 

There is no longer a debt and I have proof of that. My SUV was repossessed without any prior warning or legal justification on XXXX XXXX. This action is a violation of our contract and a breach of the trust I have placed in Bank of America and its agents as my financial institution. This is a clear reporting error on behalf of BANK OF AMERICA and its agents and violation of these Consumer Protections. 

Furthermore, the conduct of the XXXXXXXX XXXX XXXX XXXX XXXX and its agents during the repossession was completely unacceptable. Not only was my vehicle seized without providing me an opportunity to remedy the situation, but I too was refused access to my personal belongings within the SUV. This caused severe inconvenience and distress, as I had important documents, personal items, and valuable possessions in the vehicle at the time of repossession. 

The repossession of my SUV was unjust and has caused harm to me. The actions of Bank of America and its agents and XXXX XXXX XXXX XXXX XXXX  and its agents are in violation of the terms of our agreement and the laws governing such procedures. As a result of these harmful actions, I have suffered financial losses, emotional distress, and a significant disruption to my daily life. 

I am requesting the following actions to address this matter : Immediate Return of My SUV : I demand the immediate return of my SUV, as it was unlawfully repossessed without proper lawful grounds. They stole it out of my driveway, XX/XX/XXXX. 
Access to My Belongings : I demand access to my SUV to retrieve my personal belongings, documents, and valuables that were in the vehicle at the time of repossession. I expect these items to be returned to me without any further delay or inconvenience. 
Compensation for Damages : I demand compensation for any financial losses, emotional distress, and inconvenience caused by the unauthorized repossession and the actions of XXXX XXXX XXXX XXXX XXXX  and its agents. 
Investigation and Accountability : I demand Bank of America and its agents to conduct a thorough investigation into the circumstances surrounding this repossession and take appropriate action to hold those responsible accountable for their actions. 

I demand that Bank of America and its agents take my complaint seriously and address this matter promptly and fairly. I trust that you will take the necessary steps to rectify this situation and restore my faith in this institution. 

I expect a prompt response to this complaint within three ( 3 ) days of receiving this letter. If my concerns are not addressed satisfactorily, I may have no choice but to seek legal recourse to protect my rights and interests.

Here are the potential consumer protection laws that may have been violated : Uniform Commercial Code ( UCC ) : The UCC is a set of laws that govern commercial transactions, including vehicle loans and repossessions. A breach of the UCC may occur if the repossession was not conducted in accordance with the terms of your loan agreement or if there was a lack of proper notice.

UCC Article 9 Fair Debt Collection Practices Act ( FDCPA ) : If XXXX XXXX XXXX XXXX XXXX and its agents are considered debt collectors, they may be subject to the FDCPA. Violations of this law could include engaging in unfair or deceptive practices during the repossession process, failing to provide required notices, or refusing to allow you access to your belongings.

807. False or misleading representations 808. Unfair practices 811. Legal actions by debt collectors 812. Furnishing certain deceptive forms 814. Administrative enforcement 816. Relation to State laws- Attempting to collect debts you dont owe - Sending written notifications with insufficient information about the debt - Taking or threatening to take legal action or other negative actions- Making false statements or misrepresenting themselves or the debt- or to otherwise improperly share information about your debt publicly. 


The Truth in Lending Act ( XXXX ) is a federal law that requires lenders to disclose the terms and costs of credit to consumers. XXXX aims to protect consumers by ensuring that they are fully informed about the costs and terms of their loans, and that they are not misled or deceived by lenders. XXXX requires lenders to provide consumers with a written disclosure statement that includes the annual percentage rate ( APR ), finance charges, and other important information about the loan. XXXX also gives consumers the right to cancel certain types of loans within three days of signing the agreement, and requires lenders to provide consumers with a notice of their right to cancel. However, its important to note that TILAs disclosure requirements for loan costs and terms do not generally apply to small business owners or entrepreneurs obtaining credit for commercial purposes, leaving commercial borrowers at risk. 
False reporting is a violation of this act. 


Fair Credit Reporting Act ( FCRA ) : If the repossession was reported to credit bureaus inaccurately or without proper notification, it might constitute a violation of the FCRA.

State Consumer Protection Laws.

You, ( BANK OF AMERICA and its agents ), are describing this account type as a loan when in fact the alleged agreement is known by its governing laws as a credit sale. There is no loan agreement in place. No goods or money have been loaned to the alleged debtor. It is a direct violation of the FCRA to knowingly furnish or report false information. Please correct or delete this item within the time allowed under the FCRA. Repossession should have never taken place. Please release this vehicle to me, XXXX XXXX XXXX. 


You, ( BANK OF AMERICA and its agents ) have violated the FDCPA by mischaracterizing this alleged debt in your attempts to collect. You, ( BANK OF AMERICA and its agents ), have referenced a loan balance in your statements sent to me on the following dates : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. When in fact the laws governing the alleged contract clearly state this is called a credit sale. No loan has taken place between anyone involved in the alleged agreement. The alleged debtor is not a borrower nor have been loaned any goods or advanced any money by the alleged creditor. I will be escalating my complaint, demands, defenses and claims concerning this matter. Remove this lien off my title and records as this is false reporting. 
RETURN THE XXXX XXXX XXXX WITH XXXX XXXX TO ME THE RIGHTFUL OWNER, XXXX XXXX XXXX TODAY XX/XX/XXXX! THIS WAS AN UNLAWFUL VIOLATION AND REPOSSESSION. 


Breach of Contract : If the terms of your loan agreement with Bank of America were not followed, it could be considered a breach of contract. 


It's essential to consult with an attorney who specializes in consumer protection and contract law to determine which specific laws were violated in your case. They can provide you with guidance on how to proceed and seek remedies for any violations that may have occurred. Additionally, you should keep all relevant documentation, correspondence, and records related to the repossession to support your case. 

_________________________________ XXXX : XXXX XXXX XXXX Role of Agent, Fiduciary, attorney-in-fact For XXXX XXXX XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation