10 Year Old Car And A Collection Agency Playing Unfair

by kelly
(Wisconsin)

I purchased a used vehicle years ago. I had trouble making payments and struggled through the last 2 years of the loan. I had one more year of payments left, and the bank sold my loan to a collection agency.

This collection agency jacked the loan up through all kinds of fees and you name it add ons. The car is 10 years old and in rough shape. They are now threatening to repossess it.

I have paid 95% of this car already and now they want me to pay way more then the cars value or take it.

I have the choice to pay thousands more on this car, or set up payments that I can't afford.
Plus I read complaints from others with this company, that if you cant make the full payment, even a partial they take it. The complaints said they are so unfair, you cant win with this company. I am so strapped and in poverty, if they take this car, my kids and I are sunk. I will not know where to turn.

What can I do legally to protect myself against this company?

Reply from DebtCollectionAnswers.com: Kelly, we are so sorry to hear what you are going through. It makes no sense what they are doing, given the age and condition of your vehicle.

Why don't you talk with a consumer law attorney to find out whether their collection tactics are legal? You can contact a local consumer law attorney with experience in debt collection cases, or call the Collection Complaint Hotline at 888-711-5183 for a free, confidential case evaluation. There is no fee unless you recover, so you might as well find out.

Since there are so many complaints against this company, you may also want to find out if they have been sued by other consumers. You can ask the attorney, or search online for "name of company class action lawsuit" or "name of company lawsuit."

You can also file a complaint against them with the Better Business Bureau and your state attorney general. Why not? If there is a pattern of complaints, governmental agencies may go after them.

The other thing you may want to do is to get a a free consultation with a bankruptcy attorney to find out if bankruptcy can help you keep your car and work out something with the debt.

Please let us know how this goes for you.