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2007-03-19 10:01:27 · 4 answers · asked by sandra6456 1 in Business & Finance Credit

they sold the truck and whats left is interest and fees and that totaled more than it was orginally worth. Most people never pay a cent i have been paying for years. just want to know if its necessary. already own a home and other vehicles. But like they said...you have good credit we know you will pay ...i guess you get screwed no matter what...ex hubby got it repoed i just have to pay for it

2007-03-19 10:15:36 · update #1

4 answers

What is the judgment for? Is it for the original loan or is it for fees they incurred during the repossession?

I'm assuming that they have sold your car by now but usually when they do that, it's sold at auction and they don't usually get what the car is even worth so it is possible that you owe them additional money. Plus, they'll want their collection and legal fees. If they got a judgment for that, then yes, you still owe them.

Additional info-- How much additional did you owe them? If you've been "paying it for years", is there any chance of hauling ex-hubby back into court and getting a court order to make him pay some of it back?

The only other thing I can think of is to call them and negotiage a payoff on it. Then pay the thing off and get rid of it. It sounds like they just keep adding more fees on to it and you're never going to be out from under it unless you negotiate some sort of final payoff and get rid of it.

2007-03-19 10:10:34 · answer #1 · answered by Faye H 6 · 0 0

If there is a judgment, you have to pay it off. If no judgment is entered, you can pay it off or not, depending on how important your credit is to you. If you do not pay off a judgment, you could be subject to garnishment or confiscation of property. You also will not be able to buy anything major (house or car) on credit until it is paid. Judgments never leave your credit report. They just show whether they are paid or not. Pay it off.

2007-03-19 17:09:43 · answer #2 · answered by mamalissa 2 · 0 0

What they do is auction the car or sell it off and you pay the balance of whats still owed.

2007-03-19 17:12:07 · answer #3 · answered by michele_zanella 3 · 0 0

yes please pay it off as soon as possible.

2007-03-19 17:10:45 · answer #4 · answered by xxxxxxx b 3 · 0 0

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