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Titlemax repossessed and sold my vehicle are they required to provide information verifying what they sold the vehivle for.

Augusta, GA |

I have talked to the local store and the district manager and they say that they cannot proived that information. They also stated that if they sold it for more than it was worth that I would just receive a check but I do not feel that I should just take there word for it. Is there anything that I can do? Do i have any rights when it comes to this?

Attorney Answers 1

Posted

The question will come up when they try are ask for the balance remaining after the sale. In addition when the reposession appears in your credit report you have opprotunity to make a comment or dispute. The contract for financing will set forth the addresses for the finance offices and I would suggest you write them directly.

You will need to consult with a lawyer locally.

Start keeping a detailed log of all calls and letters. You should also demand in writing all communications from creditors is in writing.

Do not give them any personal information because that is how collectors decide on which accounts to recommend suing.
If you are going to make payments use money orders and not personal checks or “check by phone” because if they find a bank account the collector will be more likely recommend a lawsuit the their legal department. Get written confirmation of any payment plan the agency will accept.

I do not practice in your state and you will need to consult with a local lawyer for protection under your state law.

I have pasted a link to the FDPCA to help you with your federal rights;

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf

Good Luck

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2 comments

Asker

Posted

why would this show up as a repo when there isn't a remaining balance the title was given as collateral for money the money has been retrieved plus interest. If there was a remaining balance I would understand but thats not the situation the amount has been paid in full.

Asker

Posted

If this account was already being reported to the credit bureau like a true auto loan then it would show up as a repo regardless but TitleMax hasn't reported anything....they would have to start reporting to the credit bureaus after they reposessed the car which would be negative information that you could dispute before it hits your report. Thoughts anyone??

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