Ask The Get Out of Debt Experts Repossession

Crescent Bank and Trust Repossessed My Car. – Yolanda

Written by Steve Rhode

“Dear Steve,

My vehicle was repossessed by Crescent Bank and Trust which is a second chance bank. I was never notified by the bank that my vehicle was going to be repossessed. Is it required for the bank to contact me by mail or phone before taking my vehicle in the state of Texas? I moved from my prior residence and I sent a letter to the bank with my new address and phone number along with explanation that I recently divorced and needed my name changed to my maiden name. I never heard back and continued sending payments. All of a sudden the repo man shows up and says the bank has sent us to repossess your vehicle. It happened to be on a Saturday so I wouldn’t be able to speak to the bank until Monday morning. I’m wanting to know what my rights are as a consumer and what my options are.

Am I able to reinstate the loan or will I have to pay the balance in order to get my vehicle back? Also how many days do I have to get back my vehicle before it goes to auction or is sold?


Dear Yolanda,

I’m not aware of any state that requires a lender to notify you of repossession other than notifying you your loan is not in good standing.

If the lender repossessed your car and your loan was paid and current, then that would be a different matter.

From what you describe, it sounds like you made all the payments and that this is actually an administrative screwup by the bank. If that’s the case then talking to the bank should get your car back.

They will have to notify you when the vehicle will be auctioned off and give you an opportunity to pay the loan off in full to get your vehicle back.

Please post your responses and follow-up messages to me on this in the comments section below.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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