Do I need to pay this money back for a car that was a lease, that they came and got?

Question

I had a car that was a lease. I was going through a tough time in my life and I forgot the lease was almost up. I wanted to keep the car but the company said it was too late because I didn't contact them, so they took the car. Now they are trying to get like 5,000 out of me. Calling it an unpaid balance. Any advice on this subject
?

Actually they have already tried suing me I guess. I don't understand any of this stuff. But I keep getting letters that say they are from attorneys at law, but at the end of it, the letter says its a letter from a debt collector.

Answer 1

No do not pay them they repo the car they might say they are going to sue you if they do let em most of the time they will not even show up for court

Answer 2

Read your lease. (You DID keep a copy, I hope!) This is the contract between you and the leasing company, dealership, or wherever you got the car. It spells out the terms and conditions of the deal, and by signing it, you agreed to abide by them. If the lease says you are liable for this fee, you have to pay. By not paying the lease long enough that the company repossessed the car, you've damaged your credit rating. If you are liable for this fee, and you don't pay, you'll damage it even further. If you want to get another car, a house, or a credit card in the next 5 years, and you don't want to pay horrendous interest rates, then you have to live up to your end of this bargain.

Answer 3

While I am not an attorney, I do work in a law firm and the company can and may sue you - don't assume they will not show up in court - if they sue, they probably will show up in court! You need to look at your contract and see what provisions for repossession are. Better to deal with it before they sue you - it will cost you a lot more if they have to go that route!