Legal Question in Credit and Debt Law in Georgia

Re: car repossion

What probably happened was that the car was sold or auctioned for less than you owed on the car. So, you were responsible for the remaining amount. And it sounds like that amount was discharged in your bankruptcy.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

Glenn M. Lyon, Esq

MacGregor Lyon, LLC

Promenade II

1230 Peachtree Street NE

Suite 1900

Atlanta Georgia 30309

Phone 404.942.3545

Fax 404.795.0993

[email protected]

www.macgregorlyon.com

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Re: car repossion

Your question is confusing. The main reason I will try to answer it is because this is something that has apparently been bothering you for twelve years.

It sounds like what happened is that, after your car was repossessed, and it was probably sold at auction, the amount received at auction was not enough to cover the existing loan balance/lien. (This is not unusual.)

Therefore, the amount still owed on the loan was still a debt that you owed, even though you no longer had the car, and even though the car had been auctioned off.

I.e. say the car price was $10,000, you put down $2,000, get a loan for 8,000. The car is repossessed, auctioned, but they can only get $7,000 at the auction. Therefore, you would still owe $1,000 to the finance company for the loan that you took out.

When you filed for bankruptcy, all debts are supposed to be listed, or else they will not be considered "discharged" via the bankruptcy. So, it sounds like your attorney for the bankruptcy (correctly) listed the debt to the finance company, and I would assume the debt was "discharged" through the bankruptcy process--i.e. after the bankruptcy was finalized, you no longer owed that amount.

If my assumptions are true, then what happened was probably correct, and you have nothing to second-guess about. So, put the past in the past.

I strongly recommend that you consult with an attorney immediately so that you can explore your legal rights, obligations, and options. If you wish to discuss retaining my services, contact me at:

[email protected]

(973)-605-8995

(*Licensed in New Jersey, Maryland, and Dist. of Columbia)

[Disclaimer: The above comments are not intended as nor should they be relied upon as "legal advice", which can only be obtained by personal consultation with a retained attorney; at which time the specific facts and circumstances of your case can be thoroughly evaluated. This reply is provided for general informational and educational purposes only, and does not create an attorney-client relationship with the responding attorney.]