Legal Question in Credit and Debt Law in New York
I was approved for a toyota corolla 05 in 2004. I was called to come into the dealership to pick up the car. I picked up the car and was told that my payments would be $225 a month n when i received the bill the amount was twice as high.. I called the dealer ship n was informed to call the bank (capitoll one auto financing) i called n was informed it i wanted to give the car back due to the fact that i signed a contract to obtain a new car i was reponsible for the full amt plus interest on the car. The bank informed me that what i was doing by giving back the car was called voluntary repossession n that the car would be auctioned off n i would be held reponsible for the balance after the car was sold off. It was auctioned off in sept of 2007 for 9000 n the price of the car was 1400. I was informed that i would paid back what was already garnished from my paycheck.how can i fight this. I was never served and i didnt sign a contract for the amt verbally agreed upon
1 Answer from Attorneys
It is difficult to determine what you signed without reading it. Most car dealership have the person sign a provisional financing document that states if you cannot be approved for the interest and payments set forth in the credit agreement, you have to either return the car or obtain different financing.
There are two issues - (1) the possible consumer fraud; and (2) the garnishment claim.
For the garnishment claim, you have to be served with a lawsuit and lose your case before they can garnish your wages. Check your county's clerk's office to determine if you were sued.
For the consumer fraud, you can contact an attorney or the NY Consumer Protection office
Office of the Attorney General- New York City Office
Bureau of Consumer Frauds and Protection
120 Broadway, 3rd Floor
New York, NY 10271-0332
212-416-8000
Toll free: 1-800-771-7755 (Hotline)
TTY: 1-800-788-9898 (TDD)
www.ag.ny.gov
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