I bought a vehicle and the company kept charging fees on top of fees. When the vehicle was totaled they were notified, but did not file an insurance claim to collect their money. They have turned the balance over to a collection company who is charging 34% interest.
The collection agency can't charge you any more than the interest rate that is in the financing contract. So, look at your contract.
But if the vehicle was insured, why didn't you make a claim?
Check with your insurance company and find out if it is too late to submit a claim. If you can still submit a claim, try to get a settlement with the collection agency for them to take what you can get from insurance as a full settlement.
I think this is all bit too much for you to handle on your own, so I suggest you find a consumer law attorney near you to handle this for you and deal with the issues regarding excessive fees and interest.
As the owner of the vehicle you were responsible to make a claim on your insurance, which very will might have paid off the debt.
This comment is general in nature and is not intended as legal advice. It does not create an attorney client relationship and obviously is not confidential. You should contact an attorney in your area who can review with you all of the relevant facts and give you specific legal advice.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline