bank loan with collateral
I have a problem I hoping someone can help with. I took a loan for $6000 from my "hometown bank" using my truck as collateral. I got into the payday loan mess and ended with my bank account being overdrawn about $700. This bank would not help whatsoever even though I told them several times, in writing, these were unauthorized withdrawals. Anyway that's another story. They offered to rewrite my loan and include this overdrawn balance. I'm paying $252 a month on this loan.
At the end of last year, my company began offshoring a lot of our work. (I'm a medical transcriptionist and get paid per line produced). My pay kept dropping to the point it was half what was making in 2005. I eventually quit that company and went to another, but it takes time to get back production.
I've been 30 days behind on this loan for awhile now, i.e., paying Jan in Feb, but it is usually paid within 30 days, a few times maybe 31 or 32 days depending on where the 10th falls. (Like this month the 10th was on Saturday). The bank calls and threatens me they're going to take "further action." My question: Can they just come and repossess my truck without going to court? What kind of "further action" are they legally allowed to take? They are consistently getting their money. Thanks!