Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
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Thank you for your answer. The be precise, the right to cure is only after repossession, and not after default. So, at this time, the Collector is aggressively pursuing that or he will repossess. There appears to be somewhat of a disconnect in the contract, since the lender can demand full payment OR repossess, and I don't have a right to cure unless the lender (or agent) repossesses (which as I stated the agent says I do not have the right to do under any circumstance).
However, wouldn't a reputable collection company allow me to cure now even though he has not yet repossessed? I feel like he is doing this just to get a higher collection fee. I my complaint valid at this time (since repossession has not occurred)?
Thank you. I assume that the lender/collector believes that I might as well just give up since the cost and time of pursuing them would be high. If I prevail, would the lender have to pay my legal costs?
Also, the is a required arbitration clause in my agreement. Would an arbitration filing now stop the repossession?
So, since the collector is telling me that if I don't advise him of the location of the equipment and have it returned immediately he will sue me, he is just trying to pressure me, since he too is bound by arbitration, right?
Is calling the lender and telling them I am engaging a lawyer and filing a complaint with the FTC against them and the collector give me any negotiation power, or does a threat (or reality) like this not even hold any weight?
Thank you. BTW, you are incredibly helpful. A few more questions:
1. When I called to make my past due payment and current payment (a month or so ago), the lender told me they would not speak to me and to call the collector. Perhaps I should call and speak to the manager and avoid the first line rep? Thoughts on anything I can say to make them speak with me?
2. How quickly does the FTC get involved? Is it a matter of hours, day, months, etc?
Thank you, Paul. Is there a way I can contact you for further assistance, and can you be engaged to assist me if necessary?
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