EastWest Bank Auto Loan Repossession

Hello Guys.


Currently I'm 2 months past due with my auto loan. Everytime I reach my 3rd mo th past due I'll pay for a month. I currently having financial crisis since I was terminated from my work.

I already contacted EW internal collections and give me an assurance that I'm good as long as I can pay at least 1 month before it reach 3 months. Palagi din ako tumatawag sa EW at sinasabi nila na wala pa sa Collections Agency (CA) ang account ko.

Medyo na bother ako nung may nag send sa akin ng text na ito:
Mr. /Ms. XXXXXXXXXXXXXXXX
We look forward to hearing from you within 24hrs.
We would like to remind you and bring to your attention that your Eastwest Autoloan obligation, is subject for Litigation. Our Lawyer's and Counselor's at law is preparing immediate legal actions for REPLEVIN case and also Abandonment of your Loan Obligation.Under the LAWS of Violation of your SIGNED CONTRACT.
We will only HOLD the filing of CASE or STOP LEGAL ACTION against you once you pay the required amount of Php 23,600 until July 31,2017.

This serve as FINAL DEMAND.
-TELAN LAW OFFICE

I'm unable to settle the whole amount and besides pumunta ako ng EW Branch and they see it just 22,300 current due. Nagmakaawa ako sa agent pero wala silang patawad. Tinakot pa nila ako na if ever hindi ko sya mabayaran today, pakitanggal na lang daw ng mga personal na gamit ko at babatakin na ang sasakyan bukas ng umaga. I'm willing to pay the due naman and I'm showing my effor to pay the amortization kahit 1 month lang.

My concern here is totoo bang may karapatan silang batakin ang sasakyan ko kahit 2 months past due pa lang? Sana may makasagot sa tanong ko.

basahin mo ulit yung contract ng loan mo since typically, may clause yan regarding sa late payment. something like Defaulting on three consecutive loan instalments or six non-successive instalments. kung meron nyan, tama si bank na request na settle mo in full yung loan or surrender mo yung sasakyan sa kanila.