Legal Question in Civil Litigation in New York
Auto Reposessing
Would like to know the differance between surrendering an auto and having your auto reposessed.Bank officer told me if i surrendered the car there would be no problem as i was unable to pay for car as i was out of work with an injury,and now they are suing me for the car they already sold.
1 Answer from Attorneys
No difference in surrender or repossession, BUT
You would still be responsible for the balance. The Surrender is better because no repossion costs have to be recovered.
It seems the banks' representative may have given you missleading information and that could be a violation of the Fair Debt Collection Pratices Act 15 USC 1692 http://caselaw.lp.findlaw.com/casecode/uscodes/15/chapters/41/subchapters/v/toc.html You can put in a defense and counterclaim based on it.
See an attorney versed in Consumer Credit Laws!
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