Veros Credit

My Lexus IS250c was stolen in the Tampa area on January 31, 2023. Kemper insurance investigated the theft and qualified the vehicle for payoff for slightly more than what was owed.

I continued to make monthly payments of $422 as I waited for some sort of settlement or agreement with the insurance company. Just after the payoff letter was sent out by the insurance company, the sheriffs department in Pasco County recovered my vehicle, while I was in Indiana to be with my father to help him recover after having heart surgery. The bank received a notice from the tow yard that had possession of my vehicle on May 18. Because I was out of town, I did not receive the notice, but was contacted by my insurance company that they would cover the fees at the tow yard until May 23.

They advised me to release the vehicle to them directly because I was out of town and unable to retrieve the vehicle myself. With this information coming in late Thursday on May 18, I was able to reach out and find the actual location of my vehicle on Monday, May 22. The tow yard informed me that the vehicle been repossessed by VEROS CREDIT. The open insurance claim and payoff letter was in the possession and files of VEROS CREDIT, giving them no grounds to repossess my vehicle.

I did not miss a payment, and I have now suffered the loss of my vehicle entirely. VEROS CREDIT intercepted the payment that my insurance company dispersed for the missing parts and damages to my vehicle. The insurance company was obligated to pay the impound fees, but VEROS CREDIT did not in force this, and was not accommodating to allow me to even get a second opinion, on the valuation of the damages and missing parts of my Lexus convertible. VEROS CREDIT retrieved the check from the insurance company and apply it to the loan.

Without just cause, my car was auctioned off for $1600 which was less than the money that VEROS CREDIT demanded from me for impound fees and unfounded fees associated with the repossession. During the entire process, I actually paid more on my car awaiting the investigation for the theft of my car to be completed and the insurance company to make an assessment on valuation. I began receiving harassing phone calls from the creditors at VEROS CREDIT, which is an absolute violation of the 7 in 7 Act to protect consumer rights. I paid my car payment of $422 per month plus surcharges and other fees beginning in September 2021 when I purchased the vehicle for $13,140 with additional charges and a down payment of $3,000.

I financed the balance of $14,047 with a 19.29% interest rate and after at least 18 monthly payments, I still owed approximately $12,000.

Now, the VEROS CREDIT is harassing me for the balance of almost $10,000 after deducting the $1600 proceeds insured by the auction of my vehicle in August 2023. My credit score of 702 has been destroyed and all my hard work for the last 5 years is in shambles as I am a single mother to a four year old son, and unable to purchase another vehicle.

I am writing to inform you of my intent to initiate legal proceedings against Assurance Auto Group and Veros Credit, following the wrongful repossession of my 2016 Chevrolet Silverado and subsequent events that I believe constitute several legal violations. This letter serves as a formal notice of my intentions and outlines the grounds for the impending lawsuit.

**Summary of Grievances:**

1.

**Deceptive Practices and Misrepresentation**: Assurance Auto Group misrepresented the financial requirements for the purchase of the vehicle, indicating a down payment of $2,500 would be sufficient for a vehicle valued at $22,000 - $25,000, but subsequently inflated the price to $30,128.

2. **Unfair Trade-In Valuation**: The offer of $1,000 for my trade-in, a Mercedes Benz E320, is unreasonably low and suggests an unethical business practice.

3. **Excessive and Unjustified Financial Charges**: I was compelled to pay an additional $1,000 for financial documentation, a practice that appears to contravene the Truth in Lending Act.

4. **Non-Recognition of Full Payment**: Despite sending a negotiable instrument for the full payment of $30,128 on December 11th, the vehicle was repossessed without any acknowledgment of this payment.

5.

**Unlawful Repossession**: The repossession of the vehicle on December 21st was executed without prior notice, potentially violating the Uniform Commercial Code and our contractual agreement.

**Legal Basis for the Lawsuit:**

Arbitrage which is Securities fraud

- **Breach of Contract**: The dealership's failure to honor the terms of our agreement, including the acceptance and acknowledgment of full payment.

- **Violation of Federal and State Consumer Protection Laws**: Including potential violations of the FTC Act and the Truth in Lending Act.

- **Unfair and Deceptive Business Practices**: In violation of state and federal laws governing commercial transactions.

- **Improper Repossession Procedures**: In potential violation of the Uniform Commercial Code and state-specific repossession laws.

**Demands for Resolution:**

Immediate reimbursement of the $3,500 down payment and the $1,000 charged for additional financial documentation. Failure to meet these demands will result in legal action, including claims for damages, legal fees, and any other relief the court deems just and proper.

**Notice of Legal Action:**

Everything was going fine unbill the vehicle went off the road and the tire popped and it received 4 or 5 dents small sized minor damage Ever since then getting ahold of anybody in the insurance department is a hassle it seems to me that they are trying to take the vehicle from me without telling me the only time that I was ever To speak with somebody I was told that I would be able to receive a check pick the licensed repair shop and have the vehicle fixed it has been 3 months since that conversation the Insurance Company decided they was going to total the vehicle They sent the financing company $18000 even though the damage to repair would probably be around 3000 maximum Something seems wrong and I seriously feel like I am being done wrong as I am the co-owner and the only person that has been making full payments on time if not early I am being completely left in the dark about the entire situation and this company I will never deal with ever again I feel like I have been played as a fool and out a bit A beautiful vehicle and the money had I known the Insurance Company would have done this I would have never reported the accident and I would have repaired the vehicle myself I'm sick to my stomach and I'm out $22000 The thought came to my mind to try and speak with somebody and management but every time I ask for a manager I'm told that the manager is off or is not in air has been out for 3 days now I'm being told one thing then I'm being told another I had to figure out myself that the vehicle was total there was a damage inspection Dunn January 5th I requested a copy of the Appraisal And it seems like a problem nobody is trying to help me anymore and I will never deal with them ever ever again I feel the financing company and the insurance company are running game on people and making extra money off of them

My car was parked for 8 months, waiting for them to pay the mechanic shop in order for me to get my car back ,and forget trying to talk to anyone in charge because all those human beings do is pass the buck to someone else leave you on hold for hour and half then just hang up the call ,they are all rude ,that Nelly need to go to common courtesy school and gain some