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IN CHATTEL MORTGAGE, which has stronger case..... Replevin or Sum Of Money?

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rrramos28


Arresto Menor
We have a client who is already past due for 3 months. He want to surrender the vehicle however, upon inspection we we have appraised the unit around 50% of the amount finance. We want to attach his real estate property. What case could we file that we can get both the vehicle and the property.

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rrramos28


Arresto Menor
Atty, pls correct me if i m wrong ......... that Replevin case you could only get the vehicle under the chattel mortgage while sum of money if the client can not pay we could attach any property he owns even bank account?

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attyLLL


moderator
the proper procedure would be to get the vehicle back first and if it is not sufficient after selling it at auction, then you can file a collection for the deficiency and attach any property.


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rrramos28


Arresto Menor
Atty, if we are going to file SUM OF MONEY......... does it mean we already waived our rights in chattel Mortgage? but in sum of money we could attach the vehicle in our chattel mortgage. Is that right Atty?



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Takgu Kumiko


Arresto Menor
I loaned a car from a local bank in 2008 but after 3 months I used it as a collateral when I pawned it to a casino financier. I was not able to redeem the car because of the high interest charges. I signed a blank paper from the financier. I then told the bank about what happened. This month they filed a case against me and my spouse to recover the vehicle. A lawyer told me not to waste money fighting the case because I will surely lose the case. I do not have any property nor money in the bank. Will the bank file a criminal case against me aside from the civil case for the replevin?

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attyLLL


moderator
answered your email


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7 turned over vehicle on Wed Jun 08, 2011 11:57 am

rmqc


Arresto Menor
Greetings. This just makes me nervous because I know nothing about legal matters. We've already turned over the vehicle being repossessed from us last week of March 2011, in return we received a paper from the bank that says "Dacion En Pago with Voluntary Surrender of Possession" which also states "in full and complete payment of" our obligation to the bank in the amount of the Promissory Note and Chattel Mortgage. However, I've just received a Notice of Hearing reset on July 15, 2011 from RTC Branch 110 on Motion to Declare Defendants in Default for Recovery of Possession with Application for Preliminary Writ of Replevin with Alternative Prayer for Sum of Money. Do I need to get a lawyer for this or should I just simply call the bank and inquire why there's still this case or why they haven't dismissed this when we've already turned over the vehicle. Pls advise kindly. Thank you very much.

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attyLLL


moderator
i recommend you file a manifestation with the court that you and the bank have reached an agreement.


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9 turned over vehicle on Fri Jun 17, 2011 4:59 pm

rmqc


Arresto Menor
attyLLL wrote:i recommend you file a manifestation with the court that you and the bank have reached an agreement.

Thank you very much, Atty.

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10 PLEASE HELP on Thu Jul 19, 2012 6:50 pm

griptimous


Arresto Menor
Atty., I have unpaid car sa isang bank which is hinde ako yung mismo kumuha . Yung auntie ko naki usap sakin na gamtin name ko para ma approve sa car loan ng kaibigan nya with some pakunsuwelo na cash na binigay sakin. SInce tiwala naman ako sa auntie ko na i-vouch nya daw yung amiga nya kaya napa payag din ako. to cut the story short 5 years yung payment shcedule ng bayaran sa bank nung car loan. 2 years na yung halos na naibigay nung amiga nya na bigla hinde na nakbyad at hinde na macontact. nag padala na ng notice ng replevin yung bank and now sum of money na daw. crmininal case na dw po yun. anu po gagawin ko?? hinde namin ma recover yung kotse at makontak yung friend ni auntie. Ako pa namn nakaharap sa lhat sa bank. please advise us. Makukulong po ba ako or what pwede gawin po??

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Dollzy


Arresto Menor
Good morning atty!! I badly need an advise!! My husbond failed to pay his monthly due for 5 months sa PS bank regarding po sa Toyota fortuner financed by PS bank. Ngayon pumunta po xa sa PS baNk Makati para po bayaran ung ung dilenquent nya.. Problema po ayaw na po pumayag ng bank kasi po dw Company policy po dw na kapag 5 months po deliquent sisingilin po buong amount. Now they are demanding us settle the whole amount and to surrender the vehicle for safekeeping.. Atty hindi namin po kaya bayaran ung whole amount. Gusto po namin ituloy kaya po bbayaran nmin ung 5 months deliquent namin. Hindi naman po namin basta ibabalik ung car kasi po pinagpaguran po namin ung binabayad nmin. Na default lng po kami na ilang buwan kasi po na bankrupt ung business nmin pero nakabawu naman po kami naun kaya po itutuloy nin kaso ayaw ng banko. Ano po dapat namin gawin?

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