Legal Question in Credit and Debt Law in Florida

4 year old vehicle repossesion

I am the co-signer of loan of a vehicle that was repossesed in 2003. I was never notified that the car was repossesed nor have I ever recieved collection attempts on the loan previously. They have recently called after 4 years of the repossesion and attempted to settle with me for 45% of the loan and threaten a judgment. They have given me 2 weeks to make the settlement but I do not have the total amount but have offered to pay most of the settlement and make payments on the rest but they have refused to accept that. I am in need of advice and my rights.


Asked on 6/15/07, 6:19 pm

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: 4 year old vehicle repossesion

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

I would suggest that you consult and retain an attorney who can negotiate this matter for you. Unfortunately, collection agencies often play hardball with consumers and demand more than the creditor is willing to accept. An attorney might be able to resolve this matter for you on more favorable terms.

Scott R. Jay, Esq.

Read more
Answered on 6/17/07, 9:24 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Florida