IS THE SEARCH AND SEIZURE LEGAL?
The procedure yes. That is, the Bank may request the measure. But it needs to meet legal requirements for it to be valid.
If you have been the victim of a case of search and seizure recently, CLICK NOW on the WhatsApp button on the side and ask for preferential assistance on our duty and we will give you all the information
necessary to promptly recover your vehicle.
CAN I DO ANYTHING TO RECOVER THE VEHICLE?
Yea! That's the good news! You can and should APPLY. Your deadline IS ALREADY RUNNING, and there are great chances of recovering it.
IF I DON'T MAKE THE DEFENSE, CAN I BE CHARGED FOR ANYTHING ELSE BY THE BANK?
Yes, if the amount obtained from the sale of the car is not able to settle the outstanding balance of the contract, the bank will continue to be your creditor and may convert the search and seizure action into execution to reach your other assets. So you will lose the car, all the amount you already paid for it (including the down payment) and you can continue to owe the bank with your name on the SPC until full discharge.
CAN I RENEGOTIATE MY CONTRACT EVEN WITH DEBT?
Yes, because bank contracts must also follow the rules of the Consumer Protection Code, and can be revised up to 5 years after their completion (payment of the last installment or discharge), with renegotiation being the best way to avoid an execution or action of billing according to the debt of your contract.
IF I AM BEING EXECUTED BY THE BANK CAN I RENEGOTIATE MY DEBT?
Yes, the first action that needs to be taken is to verify the defense period in your execution/collection action, renegotiation being in any case the best way to ensure the resolution/contract with the bank.
WILL MY NAME CONTINUE IN THE SPC?
Yes, until full discharge of the contract.
