Legal Question in Credit and Debt Law in New York

Re: reposetion

as you say, the problem is going to be proving your case. If you have no records it will be impossible to show what was paid and what wasn't and the burden of proof is on you to show that. I think bank records don't necessarily go away o\if the bank folds, it may have been merged into another bank. THere is a NYS banking department that may be able to get you some documents. The agreement you signed when you financed the truck purchase controls the way the lender can repossess and re-sell the vehicle. I always wondered if they could sell a $50,000 truck for $1000 and get you to pay the difference...usually that's what happens...they sell the truck and you pay the difference between what they got and what you owe. THey add in other stuff too, like repo costs, legal costs, all kinds of costs some of which are not necessarily collectible. You would have to review the agreement and probably hire someone who has some experience with these things. You can be getting ripped off and not know it. Good luck.

Re: repossetion

You owe money for the loan. The truck was repossessed. It was sold at auction to mitigate the damages to the lender. You owe the dfference as a deficiency. You are asking the lender to suck up a loss for money that you owed and did not pay.

Good Luck

RRG