Legal Question in Consumer Law in New Jersey
can i sue my lender for not sending me a notice that i am behind payment and they can repo my car?
I am a co-signer on a acct. with my brother and he was behind pymts and was going through bankruptcy process, he thought he was under protection but they repo the car. Now the lender sent me a letter to charge me for deficiency. Now, my question is can i sue the lender for not sending me a letter personally? Does the "right to cure" laws apply to me? I live in NJ. Also, after they repo the car they sold the property in a private sale without sending me any notice. Isn't the state law says they supposed to notify me before goes on public or private auction. So, I have a chance to buy it back or something. can i sue them for this and cancel my deficiency? Thanks!!!!!!!!!!
2 Answers from Attorneys
As a cosigner, you are bound by the same terms as the primary debtor on the loan (unless the documents say otherwise). In many commercial loans, the debtory waives the right of notice and presentment (showing the note) because the debtor is presumed to know when there is an arrearage. So, get a copy of the note and show it to your lawyer.
Af for your brother's situation, the repo action is a violation of the Automatic Stay and a violation of bankruptcy law. Your brother should have reported this to the U.S. Trustee. That said, you have no interest in doing so because it would mean that you owe more money as a cosigner.
See: http://info.corbettlaw.net/cosign.htm
See also: http://info.corbettlaw.net/lawguru.htm
You might be able to fight this. Give me a call, make an appointment to come see me, and I will go over this with you, and give you some advice.
Robert Davies, Esq. 201-820-3460
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
Related Questions & Answers
-
If you put a large deposit down on a venue. And then you have to cancel. Is the... Asked 8/03/10, 10:26 pm in United States New Jersey Consumer Law
-
I am being sued by a customer of mine , I am a corporation can they sue personaly ? Asked 7/15/10, 12:55 pm in United States New Jersey Consumer Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
