Migliaccio & Rathod is currently investigating the United States Senate Federal Credit Union for potential violations of District of Columbia law governing automobile repossession practices. Amidst the COVID-19 pandemic, more and more borrowers are missing their car payments, as financial priorities shift due to changing circumstances. If borrowers face an auto loan delinquency, they should know their rights. D.C. law requires lenders who repossess a borrower’s vehicle to provide notice of:
- Storage location of the repossessed vehicle
- Payment amount required to redeem the vehicle
- Date by which payment must be received
- Place and time of vehicle’s potential sale at public auction
- Telephone number and mailing address from which additional information is available
D.C. law also caps repossession fees at $100 and storage fees at $3 per day. In addition, D.C. law forbids storage of repossessed vehicles outside of the District.
Lenders frequently send inadequate notice letters, charge excessive repossession and storage fees, and store repossessed vehicles in Virginia, Maryland, or elsewhere, all in direct violation of D.C. law. Borrowers may receive significant remedies under D.C. law for these violations, including:
- $1,500 for each violation of D.C. law
- recovery of the credit service charge plus 10% of the principle amount of the loan
- a waiver of the deficiency balance
Are you a United States Senate Federal Credit Union borrower concerned about potential or actual vehicle repossession?
If so, we would like to speak with you. Please complete the contact form on this page, send us an email at [email protected], or give us a call at (202) 470-3520 for more information.
Committed to Consumer Protection
The lawyers at Migliaccio & Rathod LLP have years of experience in class action litigation against large corporations, including in cases involving unfair and deceptive trade practices. More information about our current cases and investigations is available on our blog.