Consumer complaint received 2021-03-26
Company: First Investors Servicing Corporation, Atlanta, GA Branch
State: OH
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
I have a vehicle loan with First Investors Servicing Corporation ( Lender ). Due to the events of XXXX it had become difficult to maintain my personal liabilities ( bills ) at current and satisfactory status. 

In XXXX of last year, I had reached out to the lender to advise of my plans to make my account current and arrange payment. The agents I spoke with wouldn't indulge any reason as to why the loan was past due, but rather yelled, belittled, and threatened to take my car. They wouldn't entertain a payment arrangement that would satisfy the account the first week of XXXX ( the following month ). I was so upset with the interaction with the agent and her XXXX and scared that my car would be taken away before I could satisfy the account, that I immediately pulled funds from my 401k. Then subsequently paid {$1100.00} in XXXX, by, XX/XX/XXXX. 

Moving forward a few months my payments were scattered, but in XXXX of this year, XXXX I paid {$800.00}. Due to the new year and becoming financially stable, XX/XX/XXXX or XX/XX/XXXX all of my liabilities would be current and in good standing, due to the economic stimulus payment of {$1400.00} being mailed to my on XX/XX/XXXX. 

I received an email from the lender on XX/XX/XXXX requesting I contact them. I did so via email, and i received no reply. I am not going to put myself through a battery of XXXX  again by calling them. Today ( XX/XX/XXXX ) I received another email from the lender indicating that I need to contact them ASAP due to the account being past due. The email also indicated that if the account isn't made current " promptly '', it will be " escalated '' to enforce the note, and since " enforcement '' would include " moving to the pre-repossession stage and then possible repossession of the motor vehicle serving as collateral ''. 

Today, I noticed my car was missing, and my property XXXX didn't tow my car, I called the lender. They indicated to me that the vehicle was repossessed this morning. They have assessed a total charge of {$1900.00}. Charges including {$1100.00} past due amount, {$18.00} late fees, {$730.00} security payments, {$460.00} in repossession fees. 

On XX/XX/XXXX I received an email communication from the lender to contact them due to my account status. I promptly replied to the email seeking resolution, however, the lender never responded. Today XXXX XX/XX/XXXX XXXX, I realize my vehicle is missing. After speaking with my residential property XXXX, and they affirmed that they had not towed my vehicle, I immediately contact the lender. The lender informs me that my vehicle was repossessed this morning. 

The lender sent me an email this morning ( XXXX XXXX XXXX ) asking that I contact them promptly in order to resolve my account status. If I do not do this promptly, then the lender may enforce the note/contract, and move to " pre-repossession '', and then possible repossession of the vehicle. 

EMAIL BODY VERBATIM : " My name is XXXX XXXX from First Investors Servicing Corporation. Your account has now reached the stage where it must be resolved promptly, or it will be escalated, and we will move enforce the agreement and protect our interests. Since enforcement will include moving to the pre-repossession stage and then possible repossession of the motor vehicle serving as collateral, it is imperative that you contact us ASAP to make satisfactory arrangements. Please call us at XXXX. If you do not have a business relationship with us, please disregard. '' According to the lender, on XX/XX/XXXX and XX/XX/XXXX, my account status is in " pre-repossession ''. However, the lender repossessed the vehicle without allowing me to comply with their email communication. The lender can not ask me to contact them promptly to avoid repossession, if, in fact, they have already repossessed the vehicle. Please also note that the monthly statements that I have received did not indicate stages of repossession. 

The lender is in violation of, but not limited to, UDAAP under the Dodd-Frank Wall Street Reform and Consumer Protection Act. This complaint should also be recorded and sent to the FTC for review for possible FDCPA violations, regardless of the lender being first party. 

This complaint and details will also be forwarded to my attorney, XXXX XXXX, XXXX with XXXX XXXX XXXX. All communication from the lender in response to this complaint or any of their unlawful actions towards me, must also copy or send said communication to my attorney. The lender may initially contact me to resolve this complaint.

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