Legal Question in Credit and Debt Law in Pennsylvania
Do I have any recourse? My vehicle was recently repossessed. I was informed it would be sold privately "at some time on or after 11/8/2010". For the last several months, I have been fighting with my loan company because they said I was behind on three months payments, and I disagreed. I asked them repeatedly to send me a payment history and was ignored and then told they didn't have that available. Finally, they sent a repo company to pick up my car on 10/20 at my place of work very early in the morning. As it had been blocked in by a tow truck and two men were standing there demanding the keys in the dark, and I'm a pretty small woman, I just handed them the keys, thus I guess making it a voluntary situation, despite the fact that I initially told them no because I disputed the bank's claim. I got on the phone with the bank as soon as I got home from work. I asked the rep what amount of money they needed for me to get my car back. The rep stated there was no way they would give me the car back. A week later I received a certified letter stating they would sell the car unless I paid the loan in full ($8K). Then a couple days ago, the co-signor on the loan told me he had spoken to the bank and they would take $1400 and a whole bunch of paperwork. If I had known that $1400 would have gotten me back my car 2 weeks ago, I might have been able to do something. But coming up with $1400 by the end of today just isn't going to happen. It seems to me that the rep misrepresented the loan company's position when she told me that I was tough out of luck. As I can not come up with $1400 today, I feel I have no choice but to wait for the sale and see what happens. I will probably have to go to court at some point when they file for a default judgment. I am wondering how that rep's statement that there was nothing they would do for me could affect their ability to file a default judgment claim against me. Two weeks ago, I was in a better position to come up with $1400 by today. But 2 days there's just no way.
1 Answer from Attorneys
You have 3 options. The first is a Chapter 13 bankruptcy which should allow you to get the car back and pay the entire balance of the loan over 5 years.
The second, which could be pursued at the same time, is litigation if the lender violated consumer laws.
The 3rd is a Chapter 7 bankruptcy to eliminate any obligation to this lender and any other unsecured debt. Of course, your situation must be evaluated to determine if you qualify.
Feel free to call or e-mail me for a free initial consult.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
