Consumer complaint received 2015-09-23
Product: Consumer Loan — Vehicle lease
Issue: Problems when you are unable to pay — 
Company: TOYOTA MOTOR CREDIT CORPORATION (GA)

RE : LEXUS FINANCIAL SERVICES ( XXXX ) /TOYOTA MOTOR LEASING ( XXXX ) -In response to CORRESPONDENCE RECEIVED FROM : LEXUS FINANCIAL SERVICES : Dated : XXXX XXXX XXXX ( Enclosed ) / Correspondence received from Experian : Dated : XXXX XXXX XXXX Report number : XXXX - Results : Outcome UpdatedTHIS notice is sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 ( b ) that claim for : Lexus Financial Services/ and Toyota Motor Leasing is disputed and validation is requested. Therefore, I would like to request an investigation/ and or arbitration hearing to resolve this issue. Fair Debt Collection Practices Act : The Consumer Protection Act was amended in XX/XX/XXXX to include the Fair Debt Collection Practices Act ( Public Law 104-208, 110 Stat. 3009 [ XX/XX/XXXX ] ). Congress passed the law to address the abusive, deceptive, and unfair debt collection practices used by many debt collectors. 
As per your investigation, upon your review of my credit reports, from : ( XXXX/XXXX/ XXXX ) I am writing in regard to the above referenced accounts and transactions. 
This vehicle was repossessed by Lexus Financial Services ( Original Creditor ) in the State of ( Georgia ) ) on or about, XX/XX/XXXX, and resold on or about XX/XX/XXXX. ( See XXXX ) As per, '' TITLE 10 - COMMERCE AND TRADE CHAPTER 1 - SELLING AND OTHER TRADE PRACTICES ARTICLE 2 - MOTOR VEHICLE SALES FINANCING 10-1-36 - Disposition of motor vehicle repossessed after default ; right to recover deficiency '' O.C.G.A. 10-1-36 ( XX/XX/XXXX ) 10-1-36. Disposition of motor vehicle repossessed after default ; right to recover deficiency ( a ) When any motor vehicle has been repossessed after default in accordance with Part 6 of Article 9 of Title 11, the seller or holder shall not be entitled to recover a deficiency against the buyer unless within ten 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 seller 's or holder 's 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 seller 's or holder 's notice emanated within ten days after the posting of the original seller 's or holder 's notice. 

( b ) 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 buyer 's residence, at the seller 's election. 

( c ) This Code section is cumulative of Part 6 of Article 9 of Title 11 and provides cumulative additional rights and remedies which must be fulfilled before any deficiency claim will lie against a buyer, and nothing herein shall be deemed to repeal said part. 

Therefore, these Respective rights of ( XXXX XXXX ) buyer, seller, etc., following repossession of motor vehicle sold under a retail installment contract were covered under Georgia Law, specifically Code Section 10-1-36 of the Official Code of Georgia. Under Georgia law, Since Lexus Financial Services failed to send the 10 day letter, and failed to validate this request, they ca n't demand payments for any deficiency. 
Under the laws of the State of Georgia ( State where car was repossessed ) UCC ( Georgia 's UCC code )