Legal Question in Credit and Debt Law in Utah

ive just recieved a summons regarding a debt on a car, i had entered a 60 month contract on a used vehicle for pmnts of 501.00 each 40 pmnts were to the principle 20k loan and 20 pmnts were entirely intrest fees. i paid 35 pmnts prior to the reposession totaling approx 17k the car then sold at auction for 12k the total that the company recieved on this vehicle was approx 29k they are now trying to get a judgement against me for just over 12k. which would bring their total to having gotten just over 40k on a 20k loan.. this is so unfair, and unreasonable how do i fight it?


Asked on 3/24/10, 4:56 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

The deficiency judgment for which you are being sued is calculated by taking the total debt you owe on the car, plus attorney fees, late fees, interest, etc. That amount is $x. The amount the car sold for is $y. Subtract $y from $x and you should get the amount for which you are being sued.

If you want to fight it, you must file a complaint with the court.

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Answered on 3/29/10, 9:27 am


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