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    Bell417's Avatar
    Bell417 Posts: 1, Reputation: 1
    New Member

    Nov 17, 2006, 09:23 PM
    3 year ago car repossession
    I voluntarily turned in a car I could no longer afford. So it was repossessed. I stupidly have done nothing about the remaining balance of the loan after the car was auctioned off. So today I was served papers saying Im being sued for the remaining balance of $6200. So I ask you. What rights do I have in this matter? I am definitely going to have to repay this now. Is it too late to call and settle with the sueing company? Thank you for any help
    dbek's Avatar
    dbek Posts: 74, Reputation: 4
    Junior Member

    Nov 17, 2006, 11:05 PM
    I would call and see if you can settle with them. Maybe they will settle for 50 percent of that. We are working with a settle group to settle on outstanding credit card/medical bills. It never hurts to try.
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member

    Nov 19, 2006, 05:06 PM
    Try to find out how much the car was liquidated for. You should only be responsible for the difference between the balanced owed and the amount of cash resulting from its sale. $6200 sounds like a high amount (unless it was an extremely expensive car.) If necessary, retain a lawyer and have him/her subpoena the credit company's records.

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