hey sevenxtrust,

How did you make out with your car...
was it repossessed?

I have a "big" reporter asking me to find people who may have had their car repossessed. Would you be willing to tell your story for a newspaper?

mmm... only a guess here, but the fact that the vehicle is neither owned nor insured by the people responsible for paying the loan may have Wells Fargo concerned about the possibility that you may try to scam them.

Essentially, the contract somewhere should state that you are not permitted to sell or transfer title to the vehicle without permission until the loan is paid. If you and your mom signed the loan, in order to register the vehicle in your wife's name you would have had to "sell" or "transfer" vehicle title.

What do you think you could sue them for?
I don't uderstand the circumstances you list.
It makes no sense that Wells Fargo would have any interest in repo'ing a vehicle because the insurance is in someone else's name.
Having dealt with them in the past, I know, that the only thing Wells Fargo cares about is getting paid. That and their rediculous lending interest rate which I think is near 30%.
It's not the vehicle who has insurance, but the individual.
The person who drives the vehicle does not have to have the car in their name in order to be insured on that vehicle.

PB.

sevenxtrust,

Hmmm... interesting question...
What you're asking the insurance company is to pay you if your wife's vehicle gets damaged...

I would contact the insurance company and ask them why they have a problem with that...

The logic is that if the vehicle gets damaged , the money should go to the person who owns the vehicle, so that they can repair it or replace it. If the money goes to you, there is no guarantee that the money will be used to fix or replace the vehicle.

That's my opinion, you should check with both the insurance company and the creditor to see what their stance is.

O.K here is the thing, me and my wife recently purchased a vehicle about three mnths ago and it is insured and registered under my wifes name. But me and my mother are the ones who have signed the contract. But now Wells Fargo is calling me and telling me that we have to put the insurance in either mine or my mothers name. But the thing is the contract does not say that it has to be put specifically in my name or my mothers.

So I told them this, by stating that the contract asks that the vehicle has to have full coverage but does not stat that the owner or co-signer has to have the insurance in their name. But they say that it does and if the insurance is not put into one of our names that they will repossess the vehicle and continue taking the monthly payments from us even though we no longer have the vehicle.

Now I want you all to know that I am not a money grabber, but is it possible to sue in such circumstances. Because my wife is a student who goes to University and there is NO WAY that we could afford to pay for something we don't have. Also I don't drive the vehicle at all, that is why the insurance is not in my name.

Your help will be greatly appreciated!!!

My big question is can I sue them and for what.

Thank You.