Re: Illinois Repossession and Redemption Process problems with Lender

Posted by JG (68.72.129.250) on August 04, 2003 at 22:41:46:

In Reply to: Re: Illinois Repossession and Redemption Process problems with Lender posted by singlemomintrouble on August 02, 2003 at 14:21:15:

Sorry for the lack of response, was away from home for a few days.

> Total due as of the date of this notice plus any additional amounts which may become due between the date of the notice and the date of reinstatement.....amount due now $2,142.90

They have chosen to go the reinstatement route according to the form they used. This means that once any past due amounts are paid and the repossession has been redeemed, you are (again) bound by the terms of the original contract.

I do not believe they can ask for advance payment (as mentioned earlier):

"the total of all unpaid amounts, including any unpaid delinquency or deferral charges due at the time of tender, without acceleration"

> They also enclosed an affidavit of defense to the creditor....what is this?

If you do not plan to redeem the repossession, the creditor will file to have the title of the vehicle transferred to them. The affidavit of defense to the creditor basically tells the state that you do not want the creditor to be able to claim the title under repossession, but you'll need a reason (like, "I'm going to redeem", or "unlawful repossession", etc.)

> What can I do about this?

The IL Attorney General is who you'd want to bring this up with... even though the IL MVRISA states 3 days, the UCC states 10 days (810 ILCS 5/9-612(b)).

I'll try to read more into it tonight. You might want to start a new thread and ask Why Chat's opinion on which laws override which. I'd think that the IL MVRISA would override the UCC statutes with respect to vehicle repossession.

Good luck!

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