Repossession in the middle of the night?

Question

I'm three months behind on my car payments because of losing a job back in March and this crappy economy. I talked to my bank on Friday because they were threatening repossession, and I said I'd come up with the money due over the weekend. The customer service representative said that I had until Monday and that she noted the account. Also, the loan still had an address in another state, and I updated with my new address in my new state. This was Friday right at 5:00pm.

I went out this morning (Sunday) to go to the store, and my car was gone. When I called to see if it was repossessed, my bank told me that department was closed and to call on Monday morning.

Does this usually happen? I'm wondering if coincidentally my car was stolen (because it actually happens a lot in my apartment complex). I'm thinking it must have been repossessed, but do things really work that quickly? Would a woman I talked to Friday at 5:00pm given my new address to a collection person in a completely different state to repossess my car in the middle of the night on a Saturday?

Is there anyone else I should call (short of the police)? I have the cash ready, but was just waiting until Monday! HELP!

Answer 1

what banks are open on sundays??  

Answer 2

Your best bet is to call the bank on monday.  The repo men dont ever sleep.  The information about your address was placed in the computer and it was updated immediately.  and they can come at any time.  most come at night because they are afraid of confrontation.  you could also call around and see who does reposses vehicles and ask them if they took it.  the police might hurry things up.

Answer 3

In most states there is a rule that we have to notify the local police station when we repossess, so a simple call to the police department would probably answer your question.

And yes, no matter what the bank tells you, when the repossession order has gone out your car will be picked up unless you show up at the bank with the money.  After all, you had over 90 days to pay them and didn't, so they are right to be cautious about this time too.

Chances are when you gave them the new address, they notified the repossession agent and told them to get it.

Answer 4

I think it has been stolen

Answer 5

Sure.

Once you are a day late, your car is fair game for the repo man.

No way were they going to take a chance on losing the car if you haven't paid anything in three months.

Even if the car was stolen, you were required to have full coverage, so no biggie...especially if you have gap insurance.  You are smart enough to at least keep full coverage.

Now you owe at least an impound and a repo fee for waiting even if you had the cash to get caught up on the payments.

Answer 6

I would turn it in to local police as stolen they will know if it was repossessed or not. This happen to a friend of mine at work he went out and car was gone turned it in and the credit union which was in the same building had repossessed it.

Answer 7

If it was stolen hope you had full coverage, if the bank got it you can go and pay your back payments and get your car but you now have to pay a repossession fee be for it will be released which is costly,good luck

Answer 8

Seems to me they would have a hard time advising the repo company of the conversation at 5pm on a Friday.  If they already had the order, I would guess they did not get the information on time prior to the bank closing.

On the other hand, how appropriate if it was stolen just prior to repossession.