Legal Question in Credit and Debt Law in Wisconsin

repoed truck, she was co-signer

I was the buyer because i had good credit, but she was responssiable for the payments and in posession of the truck. Before we ended the relationship we were living together. After, she stayed put and I moved. Now any info that might of been sent was sent to her address and she did not forward me any info. The tuck went to auction and now I have a collection agency calling me and saying that I have to pay the remainder of the balance. $16,000 was left on the loan and the truck was auctioned for $8,0000. I sued her for the amnt and won a judgment but have yet to collect. (She has multiple judgments against her, about $85 grand worth and is facing 8 felony) So the collection agency is saying that ''We'' are responsible for the $8,000 but are only seeking me out. I aske for validation of the debt and sent 2 letters requesting validation on 9-29 and on 10-14 and have yet to recieve anything. Also, the collection agency called me and sent me a letter trying to get me to pay 70% of the debt AFTER i verbaly and written for validation of the debt. I thought that they are not suppose to contact me after i ask for validation and thats a violation?


Asked on 12/04/08, 12:55 pm

1 Answer from Attorneys
JAY Nixon nixon law offices

Bankruptcy Discharge of Cosigner Liability for Repossessed Truck, FDCPA Right to Terminate Non-Judicial Collection Calls

You are in dire need of a conversation with an experienced bankruptcy lawyer, since deficiency judgments left owing following a repossession are normally 100% dischargeable. Unfortunately, neither the reasons why a cosigner may have guaranteed debt nor the identity of the primary debtor limit a lender's options about which debtor they will collect from. They will always pursue whoever is the easiest and most available target who is earning a paycheck that could be garnisheed or other nonexempt assets. The cosigner, however, does have the right to sue the primary debtor for any amounts so collected. Your FDCPA rights may be violated by continued collection calls after you requested instead to be sued in court and not called any more. You should therefore also mention that to your attorney. Unfortunately, FDCPA damages are not very generous to successful debtors who sue creditors, meaning that your money may be better spent on filing bankruptcy than pursuing such claims. Unless you subsequently retain me, my comments here are not intended as legal advice; you must instead consult your own attorney. Good luck.

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Answered on 12/07/08, 7:10 pm


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