Consumer complaint received 2024-05-20 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Loan balance remaining after the vehicle is repossessed and sold
Company: Global Lending Services LLC
State: IL

Complaint narrative:
On XX/XX/year>, XXXX XXXXXXXX XXXX vehicle was repossessed. On XX/XX/year>, XXXX XXXX entered into an Extension Agreement for Redeemed Accounts with { XXXX }, whereby the term of the contract would extend the payments for XX/XX/year> and XX/XX/year>, and that his next payment would be due in XX/XX/year>. A copy of the extension agreement is enclosed with this letter for your reference as Exhibit A. 

On XX/XX/year>, XXXX XXXX made payment of {$1000.00} to XXXX XXXX XXXX over the phone as the result of representations made to XXXX XXXX by XXXX XXXX XXXX... Specifically, XXXX XXXX reports that he was told that, if he made this payment of {$1000.00} on XX/XX/year>, he would be able to retrieve his vehicle the next day. However, these funds were refunded to XXXX XXXX that same day, as indicated in Exhibit B. This payment was timely according ot the Notice of Right to Reinstate and Notice of Our Plan To Sell Property enclosed with this letter as Exhibit C. 



XXXX XXXX reports that, on the morning of XX/XX/year> he called the location where his vehicle was being stored as soon as it opened in order to make arrangements to pick up the vehicle. At this point, he reports that the vehicle had already been sold, despite XXXX 's timely payment the previous day. A document entitled " Notice of Sale of Collateral and Explanation of Deficiency/Surplus, '' dated XX/XX/year> is enclosed with this letter as Exhibit D. This document states that the vehicle was sold on XX/XX/year>, despite representations that were made to XXXX XXXX that the XXXX had been sold on XX/XX/year>. 

XXXX XXXX has subsequently spoken with { GLS } regarding the repossession and sale of his vehicle, and has been told by multiple Global Lending Services agents that they erred in the handling of this matter. 

Additionally, XXXX XXXX reports that this mater is being reported negatively on his credit reports, even though he made a payment to reinstate the vehicle prior ot the repossession sale. 

As you know, Illinois permits debtors to reinstate their vehicle after repossession. Notice must be provided to the debtor within three days after repossession, and debtors must be given 21 days ot reinstate the loan contract. Tender of payment pursuant ot the right of reinstatement restores to the owner his limited rights under the agreement as though no default has occurred. 625 ILCS 5/3-114. 

The Illinois Commercial Code requires that every aspect of a disposition of collateral, including the method, manner, time, place, and other terms must be commercially reasonable. 810 ILCS 5-9160. Noncompliance with the Illinois Commercial Code 's requirements alows for recovery of damages. Specifically, if notice is improper or if the vehicle was not sold in acommercialy reasonable manner, the debtor may recover the finance charge plus 10 % of the principal amount of the obligation. 810 ILCS 5/9-625.

Moreover, the Illinois Consumer Fraud and Deceptive Business Practices Act, 815 ILCS 505 et seq., explicitly prohibits " methods of competition and unfair or deceptive acts or practices, including but not limited to the use or employment of any deception fraud, false pretense, false promise, misrepresentation or the concealment, suppression or omission of any material fact, with intent that others rely upon the concealment, suppression or omission of such material fact ... in the conduct of any trade or commerce ... '' Representations and conduct made throughout the course of this transaction are ni direct violation of this statute. Successful claimants under this statute may recover their attorney fees and costs, as wel as for inconvenience and aggravation. 

Because XXXX XXXX made a timely payment ot Global Lending Services as agreed upon by both parties and because the sale was made after the timely payment was made, demand is hereby made for a waiver of any and al deficiency balance, including removal of said deficiency balance from XXXX XXXX 's credit reports. 

Additionally, demand is made for {$14000.00}, represent is the finance charge on the sales contract combined with 10 % of the cash price of the vehicle at the time of purchase. Further demand si made for additional appropriate compensation for the aggravation and inconvenience that XXXX XXXX has suffered as a result of the material misrepresentations that were made throughout the course of this transaction. 

Finally, demand is made for proof that the Notice of Right to Reinstate enclosed with this letter as Exhibit C was properly sent and received by XXXX XXXX in XX/XX/year> and for details regarding the conduct of the sale of XXXX XXXX 's vehicle, including proof that the vehicle was sold no a commercially reasonable manner, and the date that the vehicle was actually sold. 

If XXXX XXXX is not satisfied by your response, including statutory damages, damages for aggravation and inconvenience, and waiver of all deficiency balances and elimination of this balance from his credit reports, eh is prepared to take al available actions including, but not limited to, filing a lawsuit, and filing complaints with the Illinois Attorney General and XXXX XXXX XXXX XXXX. 

To discuss this matter Also after looking over my contract I witness a TILA violation with my entire contract being completely off, also my vehicle was sold in auction without my knowing of where the vehicle would be sold which no sorts of discloser forms where issued from this company they stated harassment with refusing to respond to my complaints as we are closing in on forced arbitration.

Company response to consumer: Closed with explanation