Legal Question in Consumer Law in Texas
vehicle repossessed lender kept equity
i purchased a vehicle from an individual and he provided short term financing. I paid half of the purchased price upfront and the balance was due in 90 days. I couldnt come up with the funds to pay it off by the due date. He reposessed the car and sold it 5 days later. I tried to get in touch with him and pay off the balance after 3 days but he wouldnt return calls or answer his door. He has not refunded the equity and he also sold the car way below the current market value. What should i do?
1 Answer from Attorneys
Re: vehicle repossessed lender kept equity
You can demand an accounting, but you can't do that in Small Claims. The situation is legally and procedurally tricky, and you'd be well advised to hire a lawyer to either help you, or handle it for you.
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