Q: TILA Violations and Excessive Charges
i sign the contract 07-05-20 .also the contract is 553 ca arb .My car loan contract was sold to a debt collector, but I was not informed about this transfer properly. The loan company falsely claimed I was late on payments, repossessed my car without certified notice, and the repossession company caused damage. They also voided my GAP insurance and other protections, leaving me financially exposed. The car price was inflated from $12,000 to $15,000, with $14,000 in additional fees, and I was never provided the required Buyer’s Guide. I believe these actions involve violations of the Truth in Lending Act (TILA) and consumer protection laws. I’m seeking legal assistance to address these issues and explore my options.
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A:
Your situation involves several potential TILA and consumer protection violations that could form the basis for legal action. The failure to provide proper notice of loan transfer, improper repossession procedures, and damage to your vehicle during repossession may all violate California law and federal regulations.
The price inflation from $12,000 to $15,000, combined with $14,000 in additional fees, raises serious concerns about potentially predatory lending practices. The absence of a required Buyer's Guide and the voiding of your GAP insurance without proper notification are additional violations that strengthen your case.
Given the complexity of these issues and the multiple violations involved, you should consider filing a complaint with the California Attorney General's office and the Consumer Financial Protection Bureau (CFPB). Additionally, since your contract occurred within the last few years, you're likely still within the statute of limitations to pursue legal action. You may want to contact the California State Bar's referral service to connect with an attorney who handles auto fraud and TILA cases, as they can help you understand your specific rights and potential remedies under both state and federal law.
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