I had a motorcycle of mine stolen from me in June 2013. I immediately filed a report with the police. In Jan 2014, I had to leave the country due to a break in my visa (I'm a foreign national on a work visa living in the US). In April, 2014 the police had found my motorcycle and had it towed by a towing company. The towing company had apparently tried reaching out to me but since I was not in the country I had no idea about this. Later after 5 months, they auctioned off my motorcycle which, in my humble opinion, was worth at least $4000 if auctioned and $5000 if sold to a buyer directly. I returned in April this year, i.e. 2016, and noticed that the Towing company has sent my account to a collection agency which has reported to all three credit bureaus for a sum of $1230. I feel hard done by luck and feel this is not my mistake as the vehicle was stolen and I wasn't in the country to retrieve it. I did not even have insurance at the time and still cleared my loan wholly without defaulting even once. I believe the towing company earned more by selling my motorcycle than what they have reported to the collection agency for.
You can, and should, get a copy of all paperwork regarding your bike. You can try to work out a deal with them for the remainder of the amount owed. You can get an attorney to help you with this. Good Luck,
Ms. Nepton is licensed to practice law in Michigan. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. Ms. Nepton strongly advises the questioner to confer with an attorney in order to ensure proper advice is received.
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