My vehicle was repossesed almost a year ago now. After them selling the vehicle in the auction, I have a balance of $3228.20. Am I obligated for this balance? Some lawyer agency keeps calling and threatening suit. What can I do to get out of this, if possible?
2006-10-17 06:09:46 · 10 answers · asked by Carl Parker 2 in Business & Finance ➔ Personal Finance
This does not make any sense to me. If they took it and sold it for whatever they recouped for it...that's their problem. Does not sound logical or possible they could do this. Ask a lawyer.
2006-10-17 06:20:06 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Sorry, you are most definitely responsible for paying off the balance. Your car loan was a secured loan and when the sale of the repossessed vehicle didn't settle your debt, you have to come up with the balance. Make repayment arrangements with them now, or you will find your wages garnished!
2006-10-17 06:17:23 · answer #2 · answered by kja63 7 · 1⤊ 0⤋
you are able to sell different sources to pay the soundness. as an occasion, you are able to sell your computing gadget, television and something you own. in case you do not pay the soundness the financial organization is going to record tournament against you, attempt to snatch any financial organization money owed you have, and garnishee your wages. You borrowed the money, the financial organization is actual interior their rights to opt for their funds lower back!! you probably did not stay as much as a prior contract to make funds (in case you had, the automobile would not have been repossessed) it quite is user-friendly to appreciate why the financial organization won't opt for to attempt for yet another charge contract!!
2016-11-23 16:05:31 · answer #3 · answered by zorine 3 · 0⤊ 0⤋
You are obligated to pay the balance. However, contact the finance company and see if you can make small monthly payments.
2006-10-17 06:16:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋
yes you have to pay or file a bankruptcy chapter 7 to aviod the balance. You were either upside down in the auto or stupid or both
2006-10-17 06:17:02 · answer #5 · answered by golferwhoworks 7 · 0⤊ 1⤋
yes, you are obligated for this balance its own your credit until you pay it you cant get nothing such as house you can get a car but your interest rate will be high
2006-10-17 06:22:28 · answer #6 · answered by annjilena 4 · 0⤊ 0⤋
You get out of it by paying what you owe. Or work out a payment plan with them. If you don't, they're very likely to sue.
2006-10-17 06:38:45 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Go talk to a lawyer now.let them work this out.
2006-10-17 06:19:27 · answer #8 · answered by cawillms 3 · 0⤊ 0⤋
your options are bicycle, walk, or take the bus
2006-10-17 06:17:13 · answer #9 · answered by alanc_59 5 · 0⤊ 0⤋
pay your bills.
2006-10-17 06:15:51 · answer #10 · answered by Anonymous · 1⤊ 0⤋