Legal Question in Banking Law in New York

repossessions

I had car repoed in 97, The bank filed a won a judgment in 2001. I was pying them while I ws employed but I lost that job 2 years ago. I just started my business and went to the bank to pay a bill and found out that I have a hold on my account for that car in which the amount is twice as much as what is due to them what should I do. also, how do I go about finding what the auction resold the car for.


Asked on 12/08/07, 2:04 am

1 Answer from Attorneys
Glenn Liebert Delain & Liebert, PLLC

Re: repossessions

If you signed a retail installment contract when you first got the vehicle, those contracts would contain provisions regarding interest on unpaid balances. That might explain the extra balance. The sale of the car should also have been factored into the outstanding balance.

If you have more questions feel free to send an email, or contact an attorney in your area for assistance.

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Answered on 12/17/07, 2:43 pm


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