QUESTION
my loan officer threaten me to repo my truck even know i make my payments can he do that
Asked on Jan 05th, 2012 on Business Law - Missouri
More details to this question:
it was all over becouse i had truble with the truck and i wanted to trade it off and i said i was so mad at the truck i could through a hammer through the window and he said fine ill just repo it even know i make my payments can he do that and he called me a low life and really put me down just becouse im on ssi
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As a general matter, a lender may not exercise default remedies unless the borrower is actually in default. One possible exception to this rule is the doctrine of anticipatory repudiation. Under this theory, if the borrower states that he intends to default -- by not making the payments or by stating an intention to destroy the collateral -- the borrower may treat those statements as an actual default. If you have questions about your individual situation, you should consult an attorney.
Answered on Jan 05th, 2012 at 12:34 PM