I let a car go back about November of 2012 and they sold the car valued at 8500 for around 1900. I just received a letter from a debt collector trying to collect the debt. I have read something about a four year statue of limitations on sales of goods or leases. Does this pertain to this? Do I have to pay collector? Do I have any recourse ? Thank you
Need laywer advice
- Thread starter mbKat
- Start date
Where did you let your car go at? If it's a wild car now, they can't do anything.
Yes, they can seek a Deficiency judgment. You can win simply by informing the court that the company that sold the car did not notify you in advance of the sale of the car so you could supervise the sale to ensure it was legit and not them selling it to their brother.
Not directed at OP but I've never understood this situation. If you can't afford it, sell it. It's not like a house where it can be hard to sell. I'm sure you can find a dirt bag lawyer to get you out of paying what you owe though.
If they failed to notify him of the time and place of the auction in advance then the sale is not legitimate and the deficiency will be dismissed.
J D Buyrider was notorious for repossessing a car and selling it a auction to themselves, and then billing the difference of their rigged sell to the original customer.
I had a couple f people worked for them tell me this story.
I had a couple f people worked for them tell me this story.
You do remember. You were not notified of the auction in advance.
Tell the collection agency you want to go to court and don't say anything else to them. Go search for "deficiency judgments on auto loans" and cite the portions that state you must be notified in advance of the auction. In court, tell the court you were not notified in advance of the auction, the action produced a sale of a $8500 vehicle for $1900. You doubt the legitimacy of that sale. You were not notified in advance of the sale and therefore were unable to supervise and/or participate in that auction.
Then you win, as you should.
http://www.nolo.com/legal-encyclopedia/can-car-lender-collect-deficiency-after-repo.html#
The Creditor Did Not Provide Required Notices
A car loan creditor must provide you with various, timely written notices, as well as give you the opportunity to exercise certain rights. If a creditor fails to give you a required written notice, then you may be able to challenge its claim for a deficiency judgment. Those written notices include:
- your right to redeem the car and when you can do it
- your right to reinstate the loan (in some states) and when you can do it
- if the creditor is selling the car at a private sale, the date of the sale
- if the creditor is selling the car at an auction, the date, time, and location of the sale, and
- a calculation of the deficiency balance (or surplus, if applicable), including a description of fees and charges.
good luck getting a lawyer to answer your question or give you advice for free. now for around 350 dollars an hour i'm sure they would be glad to answer your question, and charge you at least 4 hours worth of work.
Technical you never have to pay a debt collector ever. God bless America, That being said they will try and F your credit