Legal Question in Credit and Debt Law in Florida
installment loan on atv's
we repaid 15,682.08 on a 13,500 loan(installments) to a bank for 2 atv's. we had problems with the bank several times, once when they reported our payments late(I filed a complaint with the state comptroller and they did fix it on one of our credit reports). then it was the required insurance that we didn't know(we thot that's what the extra we paid at time of finance covered).they charged us 3-4000 per year on insurance we paid only 83 for for one year. it seemed like we could never get anywhere with them so we turned the atv's back over to them and they say we owe 10,000 left on them after they sold them.13,500 original loan paid as agreed from 12/02-12/06, total paid 15,682. can they hold us accountable for 10,000? they've sent no paperwork yet, just a notice that we're responsible for 10,000. HELP!!! we now live in florida but the vehicles were purchased in colorado when we lived there,
1 Answer from Attorneys
Re: installment loan on atv's
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.
If the loan was entered into in Colorado, this matter will probably be filed in a Colorado court. You will need to talk to a Colorado attorney or at least post the question for that state.
Scott R. Jay, Esq.
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