What rights do I have after my car has been repossed?

Question

I was advised that I would be notified of the place,date and time of my vehicles auction. None of which happened. Now I'm receiving letters from the lawyers of GM

Answer 1

Well, they should have given you the option to pay a certain amount to get the vehicle back, if not, call them and do what you can to come up with the money needed to retrieve it. You have until the day of the auction. Once its auctioned off, whatever they receive for the vehicle will be deducted from the amount you had still owing, then you will owe the difference. Make sure you research and find out that the auction took place and that it was well advertised. It says in your contract about that regarding repossessions, be sure to read the fine print. If it isn't an advertised auction, then you have a legal leg to stand on if it gets sold.

Answer 2

i assume you mean your motor vehicle replaced into repossessed, no longer repossed. enable me supply you the reason it replaced into, quoting you. "...we've been late in trouble-free terms 2 months..." You had no longer made a value in 2 months. needless to say you hadn't contacted the financial employer explaining why you hadn't made a value. somebody from the financial employer actual went to the handle, and there replaced into no person there to speak to different than a neighbor who informed them the homestead replaced into empty. replaced into it? no longer that it concerns. remember the papers signed on the commencing up of the interior maximum loan? frequently you agreed to maintain coverage on the motor vehicle, call the lender as loss payee on the subject of entire loss, to make nicely-known money, and to pay the expenses of repossession if that became needed. So the respond is. sure, they are in a position to try this. No, they do no longer assist you to recognize whilst they plan to repossess the motor vehicle. in the event that they did, you may cover it from them. possibly your grandfather can get the motor vehicle back by using making up the late money and the expenses of the repossession. sometime however after a repossession the financial employer will insist that the entire stability be paid earlier they'll return it. yet it rather is a question for the financial employer. if youin case you don't get it back, they'll grant it on the marketplace at public sale, and deduct the sale value from the stability of the interior maximum loan plus the expenses of repossession and sale training, and the guy who signed the unique mortgage would be in charge for the relax stability, plus that individual now has a repossession of their credit checklist. feels like somebody could have stored up money and communicated with the financial employer if there replaced right into a concern doing that. yet lower back, sure, it is the way repossessions paintings, and sure the approach replaced into appropriate and criminal.

Answer 3

You have the right to pay off the loan.

You still owe the money and penalties. They have the car, but will only credit you with what it is worth now.

You have the right to buy another car.

You have the right to file for bankruptcy protection.

Answer 4

Perhaps it hasn't been established yet. If your car has been sold, you may be liable for any deficiency balance.
Example : You owe $3000.00
They Sell it For 2000.00
You still owe $1000.00
Maybe this is why your getting the calls and/or letters from their attorneys.
Sandy