My car recently got reposessed. I have not yet received a letter saying how much my deficiency is. I need another car but I'm concerned that if I have a car in my name they will be able to reposess that car as well to oay my deifciency.
The car inb question was a lease to own with the full amount being 21,000. In total I have paid about 16,000 towards the price of the car, but the payoff amount is still 11,500. SO I'm sure that I will be liable for $3-4,000 after the sale. I don't know what kind of terrible deal the car dealer who put me in this car did, but I got royally screwed. Is there any way to argue about this unfair deal, when they send me a bill for the deficiency?
Click here to post comments
Return to Debt Collection Questions.
Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2019 by Mary Reed and Gerri Detweiler.
All rights reserved.