Thank you so very much for the links they are very helpful.

http://www.canlaw.com/credit/creditors.PDF

See Page 3 for the "seize OR sue" consequences of Conditional Sales Contracts in Alberta. Notice it's not "seize AND sue" (for the outstanding shortfall) as in some other provinces, nor is there a 2/3 payment exemption from seizure for autos as in Ontario.

A couple of other sites:

http://www.bankruptcy-canada.ca/money-management-and-problems/2009/03/what-provinces-in-canada-have-seize-or-sue-legislation-with-regards-to-motor-vehicles.html

http://www.slsedmonton.com/civil/the-law-of-credit/

Back in Dec of 2010 my car was repo'd. The Bailiff called and told me before hand what was going to happen. I missed two payments in 3 years and the bank went straight to repo. I was struggling at the time and was told by the bailiff that if i gave him the car and it was sold at auction. The law in Alberta is such that I won't have to pay the deficiency balance. Now its July 2011 and the bank is now after me for the deficiency balance. I have been looking everywhere online to find out if the info given to me by the bailiff is actually true. So far I haven't been able to find anything about Alberta and its laws regarding this issue. Can someone out there help me?

I would say the ex is being boned by a customs agent.....the issue becomes misuse of personal information by a customs agent who is doing a security search of his girlfriends ex.

Not sure that I understand what the problem is that you are trying to explain.

I fail to see the connection between a vehicle that was repossessed and your ex knowing about the repossession. So like, what's the big deal? You stated that you had gone through a nasty divorce, therefore, what does it matter whether your ex knows that your car was repossessed?

Many vehicle repossessions occur when the owner of the vehicle is not present when the repo man ( bailiff ) picks up the vehicle. It is then customary procedure for the bailiff to contact the local police to inform them of the repossession and where the vehicle can be located ( storage compound or sometimes a dealer's lot ).

When the owner of the vehicle returns to where it was last parked only to find that it is missing, the first instinct is that the vehicle has been stolen. The owner will then immediately contact the local police to report an allegedly stolen vehicle only to be informed that the vehicle was repossessed, who repossessed the vehicle and where it is currently located.

Now, was this vehicle towed to the United States? If so, U.S. Customs would have to have the full paperwork and details on this vehicle.

Where was this vehicle originally purchased and who was doing the financing? To whom were you making your payments and was the ownership of this vehicle in your name or your ex's name?

Perhaps you can shed some light on these questions.

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Educating one Consumer at a time

I had my car repossessed the other day. Unfortunately I could not make the payments as a result of a nasty divorce and wasting money on lawyers.

I am trying to come up with the funds but I am currently looking for work so we will see.
Here is what has happened. My ex wife had a affair with a married guy and his wife knows all about it and the best part is she is ok with it. The ex's boyfriend and wife still live together. Jerry Springer stuff I know.
Anyhow since the divorce had been nasty somehow my ex found out about the repo.
The vehicle repo does get reported to the police. That is what I am told.
Now does a customs agent have the access to the same information?
My belief is that he informed my ex and therefore I feel violated in terms of my privacy
Can any validate if the vehicle repo is accessible by a customs agent?

I agree with footloose...

years back my business crashed... I took my car into the dealership with the intention to voluntarily have it repossessed.

After thinking about the damage it would do to my credit , I decided not to... (I actually paid the rest of the car off with my credit card, and then made payments on my credit card) After we sold off our real estate I was able to clear up the credit card... after all of that my credit score was around 800..

I think the effects of voluntary repossession and having the repo man pick up your car are the same on your credit report... you'll get R9 on your report...

Not sure if I understand your story correctly. The facts are confusing. A voluntary repossession

( surrender ) occurs BEFORE the Repo Man shows up at your door to repossess your car, not during or after the repossession. .

Repossession is where a creditor holds a lien ( charge ) against the property and due to non-payment of this lien, takes possession of the property from the debtor.

A "voluntary repossession" is a term used to describe a situation in which a consumer voluntarily surrenders the property securing a loan, such as an automobile, to the lender that financed the purchase. Voluntary repossessions generally occur when a consumer has fallen behind on his or her loan payments and decides to surrender the automobile.

To voluntarily surrender your automobile to the lender that financed its purchase, you would first need to contact the creditor to explain the fact that you can no longer afford your monthly payments and that you wish to surrender the automobile. At that point, the lender will most likely provide you with a location at which you can safely turn over the automobile and tell you any details that you need to know about its procedures for processing voluntary repossessions.

Do not be surprised if your lender is resistant to your request to voluntarily surrender your automobile. The lender will generally try to work with you to figure out a way to keep the loan current and retain the automobile. Remember, the lender really doesn't want the automobile back. These efforts may actually help you to figuring out a way to maintain the loan. However, if you are sure that you cannot afford the loan payments, voluntarily surrendering the automobile can be a reasonable choice.

In regard to your credit, both a voluntary repossession and a standard repossession have the same effect on your credit rating. They will both appear as repossessions, and will both result in a significant negative mark on your credit history. A repossession will appear on a credit report for 6 years from the date of first delinquincy. You will likely see your credit score drop substantially, as having a repossession on your credit history makes you a substantial credit risk.

However, if you truly cannot afford your car payments and are falling behind, it is likely that your vehicle will be forcefully repossessed for not taking the initiative to surrender it first. The primary benefit of a voluntary repossession is that the costs associated with the process tend to be significantly lower than those associated with a forced liquidation, which could save you a lot of money as you work to pay off the remaining balance of the debt. Such costs could include lawyer's fees, repo man fees, towing fees, storage fees, administration fees, etc. The list of fees will seem endless.

Even if you surrender your vehicle to the lender voluntarily, the lender has the legal right to collect on any balance remaining on the debt after the car is sold at auction. This type of debt is referred to as a "deficiency balance". The creditor may even commence legal proceedings against you to collect on the unpaid "deficiency balance". You should therefore only proceed with a voluntary repossession if you truly cannot afford the loan, as you will likely still owe the lender a significant amount of money, even after you no longer have the use and benefit of the vehicle.

A deficiency balance is an unsecured debt, which is treated the same way as a credit card debt or a pay day loan.

.

Well after googling... I came across this thread. My car was repossessed this morning. The guy who took it was kind enough to offer a suggestion of voluntary surrender which I am considering. Called the collection agency, called the consumer protection bureau. I do not wish to have my car back to relieve me from stress. I understand this is screw up my credit score but I like being stress free and focus on other things I can pay with my extra money. My question is not that I have decided not to take the car back, do I need to call the bank and tell them I don't want it back? I am so not sure what to do.. do I just wait ..This is the first that has happened to me.. so any help, suggestions please.

Had my vehicle repossessed in 2005, only had it 2months. Lost my job after the first month and before the second payment was due had a buddies friend take my keys and get the car impounded. VFC called me threatening me asking where the car was, after I told them she said thank you and hung up. I expected a phone call or invoice from them, never heard nothing. Upon checking my Credit history they had a posted an I2 with a amount of $9800 owing. I called them, got no information of why just thats what it was. She said she'd clear the $9800 and put an R9 on my credit. Now today April 27 2010 I get an notice of collection from a third party collector not VFC for $12500 now WTF is this all about. The car had been repossessed within 2-3 months from signing. HELP Please