Legal Question in Credit and Debt Law in Pennsylvania

Car repossessed last year

I had my car repossessed last year in June, 2005. It went to auction and was sold in August of 2005. In October I received a letter from the institution that held my lease stating the car was sold and the sale resulted in a deficiency of $0.00. In June of 2006 I received a letter from a law firm stating that I now owe this creditor over $4,000. There has been no communication sice receiving the letter in October until this law firm contacted me. Are they correct in stating that I am responsible for this debt which I knew nothing about?


Asked on 8/01/06, 10:48 pm

1 Answer from Attorneys
Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: Car repossessed last year

You asked you were responsible for a claimed debt were you were previously told that your debt was forclosed with a $0 deficiency.

It depends. It seems that the debt was cleared with the auction and that the value of the vehicle was such that at auction it satisfied the debt. The question is whether there was some additional amount for which you may be responsible.

The law firm is acting as a debt collector and under the Fair Debt Collection Practices Act muust provide not only verify the debt but also must provide you with the substantiation for the debt. So the first step would be to demand this material to be provided. Send the law firm a letter.

If there is any positive response then you should pursue that to find out why there is the discrepancy between what is claimed and the stated lack of a deficiency.

Feel free to contact me to discuss this matter further.

Regards,

Roger Traversa

Email: [email protected]

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Answered on 8/02/06, 9:41 am


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