The American Repossessor

The economic downturn has led to more people getting their cars repossessed. One Charlotte man ran into unexpected problems after it happened to him.

Steve Faires said when he picked up his car from the lot, all of his things were gone. Faires fell behind on the payments for his SUV. After he missed three payments, his bank repossessed his SUV.  A friend gave him more than $2,500 to catch up the payments.“I’ve paid all the debt they told me to pay, all the penalties and interest, towing fees, storage fee, but yet I can’t have my personal property back,” Faires said. The car is missing its license plate and a list of other things, including the owner’s manual, a pager and an iPod. Faires said one thing that’s missing is irreplaceable: his stone mason portfolio. He needs it to get jobs.”I’ve worked in Charlotte setting stone for 30 years,” Faires said. “That portfolio helps me sell jobs, and it’s gone.”

Faires picked up his car from Adesa Auto Auctions in Southwest Charlotte. Workers there told him they didn’t have his belongings and asked him to sign a waiver releasing them from all liability. Adesa told Faires to contact the repossession company that took his SUV, but Unlimited Recovery said it didn’t know anything about his belongings.

Faires then called Wachovia, which ordered the repossession. A representative told him the bank was not responsible and said to check with the towing company. “So, everybody is blaming everybody but I can’t resolve getting my property back,” he said. Unlimited Recovery’s owner in Raleigh told Eyewitness News he gave Steve 30 days to retrieve his belongings. Steve said the company never worked with him. “It doesn’t seem to make sense,” he said. “I can’t have my personal property back. ”Eyewitness News spoke with a Wachovia representative, who said the repossession company owner refused to talk to the bank.

The representative advised Faires to file a police report and sue the repossession company.