Legal Question in Credit and Debt Law in Texas

Car Repossession debt
In 2002 I purchased a vehicle after having a car accident. A few months later I lost my primary job and could not afford payments. Car was repossessed. Early this year 2006 I have received a collections notice for the vehicle. The amount was almost as high as the original loan amount. I called and asked if they had sold the car. I was informed that they had sold the car but the representative would not tell me when or for how much they sold the car for.

Aren't they supposed to notify me of what will happen to the car? And shouldn't they tell me what the deficiency balance is? Why wait 4 years to send correspondence? I am also getting charged I believe finance charges. For the past 4 months the price has increased. This is also just now showing up on my credit report. Is there anyway to dispute this? How should I handle this?

Asked on 7/18/06, 10:51 am

James Grissom Law Office of James P. Grissom

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Re: Car Repossession debt

You should have received notice of the sale. You should contact an attorney in your area

Answered on 7/18/06, 11:02 am

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