Elizabeth A Ryan's Answers

I had a car repossessed that did not work. The loan company said that they were going to sell it. I received a letter from

Yes, but it may also include repossession fees, storage fees, etc., based on what the contract and state law allows. But you may have a good defense to the loan company's claim for a deficiency (the amount remaining due after the car is sold), if the loan company did not follow all of the legal requirements for repossession - and many do not - such as sending a notice after the car is repossessed that includes certain information about the sale. Feel free to contact me if you have questions or...

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My daughter is about to have her car repossessed. Will she still owe the creditor if that happens?

Generally, after a car is repossessed, it will be sold by the creditor, and if the proceeds of the sale are less than the outstanding balance, the borrower may be liable for the difference, called a deficiency. There are some limitations on deficiencies in Massachusetts. The borrower may also have defenses to a deficiency claim if, for example, the creditor did not conduct the prepossession properly, or send proper notice. She may want to discuss this with a consumer lawyer. Elizabeth Ryan

What is going to happen after reaffirming a vehicle and falling behind after discharge and getting car repoed?

Keep in mind that you may have valid legal defenses to a deficiency. State law requires a lender to send you and your son a notice after the repossession that contains an accurate description of your rights - and many do not do this. Depending on state law, the failure to send a notice that contains the required information could mean that the lender is liable to you for damages, or that the lender cannot recover a deficiency. You should consult with an Arizona lawyer to determine whether the...

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Can I be sued after my ex-wife's car was repoed.

In addition to the possible claims based on the divorce decree, you may have a defense to a deficiency - assuming there is one after the car is sold - if the lender did not follow all of the legal requirements for repossession, such as sending a notice after the car is repossessed that includes information about the sale, or if the sale was not "commercially reasonable." If all of the legal requirements were not followed, then you may have a claim for damages, or a claim that the lender can't...

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Can a bank collect interest on a chargeoff?

You should definitely contact an Ohio attorney who is familiar with the laws regulating repossessions. You have important legal rights under Ohio law when your car is repossessed. Your lender must give you a notice that contains all of the information required by Ohio law. If it did not, you may have a claim for money damages. I am not an Ohio lawyer, but feel free to contact me about finding one. Elizabeth Ryan ryan@roddykleinryan.com

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I had a car repo'ed about a year ago. my credit report shows that it was a write off. Can they come back and sue me after a year

You may have a good defense to the bank's claim for a deficiency (the amount remaining after the car is sold), if the bank did not follow all of the legal requirements for repossession - and many do not - such as sending a notice after the car is repossessed that includes information about the sale. Feel free to contact me if you have questions or need help finding a lawyer who can help you with this.

Deficiency balance on a vehicle in virginia

Assuming a judgment has not yet been taken against you, you may have valid legal defenses to the judgment. State law requires a lender to send you and your son a notice after the repossession that contains an accurate description of your rights - and many do not do this. You should consult with a Virginia lawyer to determine whether the law was complied with in your case. If you need help finding a lawyer, feel free to call or email me for assistance. If your lender did comply with the law,...

If a car is repo the payoff amount is 4255.15 and it goes to action is there a certain amount the bank has to sell it

There is not usually a minimum sale amount, but your should be aware that you may have valid defenses in the event that the lender pursues you for a deficiency. For example, if the notice of sale that was sent to you does not contain the information required by state law, you may have a claim for automatic, statutory damages. You may want to look at my legal guide: http://www.avvo.com/legal-guides/ugc/has-your-car-been-repossessed--a-legal-guide-to-your-rights-after-a-repossession-1 or feel...

When a bank repossess a vehicle, sell it a auction and the bank notifies me of the balance due , what should my next step be?

Usually when a car is repossessed and sold, and the sale price is less than the amount owed, the borrower will be liable for the difference, or deficiency. But you may have a defense to the deficiency if your creditor did not follow all of the legal requirements for repossession, such as sending a notice after the car is repossessed that includes information about the sale, or if the sale was not "commercially reasonable." You should contact a North Carolina lawyer to see if the repossession...

Can my truck be reposess if I'm making some type of payment on it from chrysler financial

Unfortunately, if you are 3-4 payments behind, generally the lender has the right to repossess your car because you are in default of your agreement, unless they have agreed to a payment plan, or have agreed to let you make payments to get caught up. You should discuss this with an Arizona lawyer. You can find a directory of consumer lawyers on www.naca.net. Elizabeth Ryan This answer is provided for general information/educational purposes and is not intended as legal advice.