Can repo companies charge storage fees for personal items?
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Can repo companies charge storage fees for personal items?
I had a vehicle recently repossessed and they charged me $130 storage fee to get the personal items out of it. So is the bank the legal owner, and if so, does the repo company have the right to charge me the $130 if their agreement is with the bank and not me?
Asked on January 11, 2012 under Bankruptcy Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you were charged the $130.00 repossession fee, you are most likely responsible for payment of it under your loan agreement for the vehicle. I suggest that you carefully read it in that its terms and conditions control the obligations that you would owe the lender in the event of a repossession.
The legal owner of the vehicle is the person or entity in whose name the car is registered to. Most likely the car is in the name of the lender until you pay off you loan as to it. The repossession company is entitled to charge you the $130.00 to repossess the vehicle if the bank does not pay the fee. If the bank pays the fee, then the bank will expect you to reimburse it the $130.00.
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