Legal Question in Credit and Debt Law in Iowa

balance after repossession sale

lawyers;

I recently have gone thru a divorce and had my auto repossessed, i bring home approximately $560.00/wk and pay $314.00/week in support and alimony. the credit company wants over $8000.00 in defeciancy moneys paid to them.

My question is what can or will they do to collect this,and how can i defend myself. i was never late for the 3 years I had the car previouse to the divorce, I tried to sell the car privately and the best offer I got was $10,500.00 and they refused to release the collateral. they sold the car at auction for approximately $8000.00. I went thru a bankruptcy in 2002 if that has any bearing on the matter.

Thanks for any advice.

1 Answer from Attorneys

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