Tuesday, November 22, 2011

Suit: Credit Union Snatched Borrower's Auto In Response To Default On Home Mtg Loan Obtained From Same Lender, Despite Car Note Payments Being Current

In St. Petersburg, Florida, ABC Action News reports:

  • A Tampa Bay teacher is filing a lawsuit against the Suncoast Schools Federal Credit after they repossessed her car, despite her loan payments being up to date. In a statement released Friday, Attorney Charles Gallagher explains that the bank repossessed Angela DiNapoli’s car in response to her defaulting on a separate mortgage loan, also financed through the same bank.

  • DiNapoli discovered that her car was missing after she had returned home from a vacation. She called police thinking that her car had been stolen, but found out that the bank had taken the car.

  • Suncoast Schools Federal Credit Union had not even filed a foreclosure lawsuit with regard to her mortgage or sent any demand for payment on her car loan when it took her car, according to the press release. “This is an new tactic for lenders," DiNapoli’s attorney stated in the release.

  • "There is absolutely no legal justification for taking her car, when she was up to date on her payments." The release goes on to say that after the repossession, Suncoast later filed a foreclosure lawsuit and DiNapoli counter-sued Suncoast for the wrongful repossession and other bank misconduct.

Source: Teacher suing Suncoast Schools Federal Credit Union for wrongful repossession of car.

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