my car was repossesed more than 10 days ago i havent been notified of sale of the vehicle or anything of sort?

Answer 1

I don't know why your car was repossessed but did you know you are still required to pay for it to get your credit rating back?.This happened to a couple of our friends.

Answer 2

This all takes time. First they have to give you time to try to recover your vehicle. Then, if you choose not too, They give you a chance to recover any personal items that may have been in the vehicle when it was repossessed. After that they will put the car in an auction and sell it. If you owed 10,000 and it sells for 6,000 then you still owe 4,000 for a car you no longer have. Now on the other hand, if you only owe 2,000 and it sells for 5,000, they owe you 3,000.

Answer 3

They cannot just take it and sell it the next day, or week. They are required by law to give you a reasonable amount of time to straighten things out. The fact that you have not bothered to contact them is a fair indicator that you are not interested in the car, so they will auction it as soon as they legally can. You will THEN be billed for the balance of the $ owed, plus storage and towing fees, and if you don't pay up, they will contact your employer with a judgment and the money will come out of your paycheck.

Answer 4

It may not be sold yet.. It was delivered to the custodial agent for the people (bank) that own the car (its NOT your car its theirs). They are not obligated to sell it.. but only to reimburse you for any value over its worth less their reposession costs.

You need to be proactive not passive. Call the finance company or bank and find out what is happening. The longer you wait the less it is worth since they are also charging you storage I bet. (not to mention you may still owe payments if the value of the car is LESS then the debt)

..get going...

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Answer 5

oh, they'll notify you with a nice hefty bill.