Blue Ridge Bank

The auto loan in question was in default of the agreement set forth in the original retail installment contract signed and dated July 18th 2014. Monthly payments beginning August 17th 2014 of $195.89  to be paid monthly on the same date going forward. The loan had not been performing in...

accordance with the terms agreed upon in the retail installment contract dating to June of 2015 when the first minor delinquency was detected. The loan was never brought back in good standing after this point. A verbal agreement is not possible in regards to the “2 payments to the back of the loan” statement. While a deferment agreement is possible this would require both guarantors to sign an agreement prepared by the bank as well as pay the necessary fee involved. Multiple calls and letters received little to no response, it is not this bank practices to charge off loans while the customer is in contact and actively paying. On June 17th 2016 we received a $200.00 payment which was applied to the payment due April 17th 2016. On August 18th 2016 we received a payment of $200.00 which was applied to the payment due May 17th 2016. With no further contact from the customer or payments received this loan was charged off on October 25th 2016, at that point ,the loan well into default was due for June, July, August, September, and October 17th 2016. An order  was sent to the recovery company at that point for repossession. The payments of $200.00 on November 18th and $200.00 January 11th have been applied to the principal balance of the charged off loan. While reviewing past charge off accounts our collections manger was able to make contact with the customer. At this point the customer was made aware of the situation and the options explained, the customer surrendered the vehicle at this point. The address and location of the collateral was provided by the customer and the collateral was swiftly professionally removed from the address. The customer stated nothing could be paid at this point as they are only working part time nor was the cosigner able to make repayment arraignments. A letter was sent certified on March 1st 2017 as a notice of our plan to sell the property. After 15 days the collateral was sold and the funds applied to the charged off loan. The collections department at Blue Ridge Bank is available during normal business hours, you may contact us by phone at [redacted] or in writing at [redacted]