Legal Question in Credit and Debt Law in Wisconsin

I had a 4 yr lease with GMAC. Towards the end of the second year, I was having financial difficulty. I had a period of umemployment and when I took another job it was at a lower rate. I got a couple of months behind. I called to let them know I was sending a payment and to ask if I could get a deferment of the 2 payments I was behind. I was told I couldn't and that if my payment wasn't in on the due date I would lose my car. I informed them that I didn't get paid until the day the payment was due. They said I could call it in. I asked if they would waive the fee that would be charged and was told they would not. A few days later I talked to another lady and we came to the conclusion that I would relinquish the car to the dealership I had picked it up from. I was told that they would auction off the car and I would be responsible the the difference between what I owed and what they got UNLESS they received more than what I owed. I would then get a check. Well, it turns out they received more than I owed. BUT I was sent a bill for what I owed minus the difference of what I owed and what they got in auction. I tried to call and question this and they said I needed to call the number on the letter. I informed them I did. They said they would transfer me. They didn't transfer me, they hung up on me. Now it's 2 weeks since I got the letter/bill and I just received a bill from a collection agency. How do I owe when they got more than I owed?? I drove the car for 2 years, only put 13,000 miles on it. It didn't depreciate much according to Kelley Blue Book. What are my legal options now??


Asked on 1/04/10, 11:44 am

1 Answer from Attorneys
JAY Nixon nixon law offices

Lenders are not always totally scrupulous and you could very well be sued or put into collection for improper charges. Unless you protect yourself by filing an answer disputing the amount in a collection case ir a certified dispute letter with the collection agency, a judgment for the improper amount or open collection listing could happen to you, either of which could force you to pay the disputed amount. If you have other financial problems, however, a bankruptcy would avoid the need to do any of this. You therefore really need legal advice and should bring your documents into a lawyer for review as soon as possible. I do not quite understand what they charged you for from your question. My comments here are not legal advice, nor do they create an attorney client relationship between us. However, you are welcome to contact my office to discuss retaining me or to set up a free initial consultation at my office in Racine. I also can sometimes arrange to travel outside of Racine for initial consultations if absolutely necessary.

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Answered on 1/10/10, 3:43 pm


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