omg my day keeps getting worse and worse i woke up and my car was gone i got a call telling me wells fargo took my car to a storage block cause im late on my bill i was going to pay them today. what is a storage block is there a such thing as that please help they said its not a repo how do i get my car do all i have to do is pay the bill
Vehicle: 2001 E320 - Brilliant Silver/Ash: MBCA member
Location: The Mountain State
Posts: 6,381
If it was not a re-po I guess that is good news. Please explain in more detail, like is your car financed through Wells Fargo? If not, then I don't think they have a legal right to touch your car, let alone tow it away.
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yes im financed through them they took it at 6:00 am in the morning they say i owe 2000$ i pay 600 a month on it how do i get the car back they said it is at storage block
No matter what they say it is in fact a repo. They just had not yet started the process and had not gone for the title yet. You must have a history of late payments and/or no payment for lots more than a few days. Perhaps you also let your insurance lapse. In any case the problem is yours and not theirs. they were entirely within their rights. My suggestion to you is to sell the car, pay them off and walk. Its people like you buying what they can't afford that is partially responsible for todays economic situation and the current credit market.
Vehicle: 2001 E320 - Brilliant Silver/Ash: MBCA member
Location: The Mountain State
Posts: 6,381
If you really owe $2000 and don't have it right now, call them to work out a payment plan that you can manage so you can get your car back. If you do not owe that much, compare your records with theirs and try to get it straightened out. It looks like the only reason they are not calling this a re-po is because they don't want the car back.
I agree that banks need a lot excuses to repo the car. Just like with today's mortgage the luxury cars drop values like a rock and by repossessing the car, the bank is going to loose lot of money.
Meaning they will be very happy to work out payment plan.
Good luck and cut down on "entertainment" expenses.
Speaking as a former bankruptcy attorney, I could recount far too many tales of people who said their car was taken the very day they were going to make a payment. Usually that payment was what they thought was the "current" one, but in fact they were two or three payments behind ("in arrears" in ancient legalspeak) and their "current" payment wouldn't have brought them current, just back to one or two months in arrears instead of three.
Repossession describes a *process* whereby a lienholder divests all others of claims to their collateral. It includes seizing the collateral and following the steps outlined by the statutes to strip the "owner" of rights to the collateral. So while they may be technically correct that this is not a "repossession" -- merely because they haven't finished the process -- they have certainly started that process by seizing the car.
What do you do? Basically, if you want the car back, you don't post on forums, you ask them: you fell behind, you breached your contract, and they now hold all of the cards. If you want the car back, you will have to do pretty much whatever they tell you to since they now have possession of the car and are legally entitled to hold you to every clause of your contract with them. Wells Fargo is not the worst lender out there, so it's unlikely they will overreach, but it also seems unlikely they will return the car to you while you are in arrears. Until you are 100% current -- which under their contract should include making all past-due payments, plus late fees, plus their expenses in towing and storage, you don't get the car back. They may be willing to rewrite the note or wrap the arrears back into it, but plain and simple, you have to talk to them.
So you really have to decide how much you want it back. Sounds like you're a few months down and with expenses that is $2,000. Lots of money for an old benz (speaking of which, how did you end up in such a bad loan? 12-15 months of payments at $600 a month is pretty much all the car is worth...).
Thus, if you can't give them enough money to bring your loan current, they'll continue with the process until they have stripped you of rights to the car, at which point they will sue you for any deficiency that remains. In other words, if you still owe them $6,000 and they wholesale it at auction for $4,000 you'll owe them $2,000 plus expenses.
Good luck,
Greg
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It would be good to know if they flat-bedded it as well since it is a 4matic. I've heard horror stories of awd cars getting hooked and hauled. Some tow truck drivers could care less, especially if it's a re-po in a hurry situation like this.
omg car was towed plz help 
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