Legal Question in Credit and Debt Law in California

Re: Lien Deficiency Claim

Not sure. What makes them an interested party?

Re: Lien Deficiency Claim

The answer depends upon the facts of what happened leading up to the car being repossessed. If you were a guarantor, or co-signer on the car loan, then yes you are on the hook. That's probably the number one reason you would receive this notice as an "interested party." If I had to guess (which I have to without further facts), I'd say you co-signed on a car loan for someone, and its now going to come back to bite you. Car repossessions almost always result in a deficiency of some sort, so if you are a co-signer or a guarantor, then I'd get a hold of the lender and see if you can redeem the car loan by bringing it current, get the car and try to sell it. If you don't, then the repo will go on your credit report, and you will be equally liable for the deficiency.

The other possible situation is that you were in the chain of title to the car somewhere after the lien went into place. In that case, you may not have any liability, but this is very rare as you cannot transfer a vehicle without the lender's consent. I'd suggest that you need to discuss this with an attorney, with more facts available to determine your potential exposure.

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