Re: Deficiency

Posted by TDB (12.150.149.176) on September 04, 2002 at 01:42:41:

In Reply to: Re: Deficiency posted by Jenna on September 03, 2002 at 14:35:18:

I take it that in your state you have a garnishment law. Ask for them to show you documentation on what the car auctioned for and find out the balance at that time. Subtract and whatever the price would have been at that point, then settle on half of that. I do want you to realize, that when you start making payments in the event you do a payment scale, this will change the date of last activity on you credit report and thus causing this to go on your credit for the additional period of last payment to the number of years allocated for a debt to stay on your report after the last date of activity. In the event that this debt over extends you and you have not purchased a home or some other major item, this may hinder you from establishing new debt until you get the debt ratio down. The company failing to inform you until 12 years after the debt appears to fall under an age old tactic of holding a person accountable twice for the same thing. If it was charged off, how can they justify receiving money that has already been credit by the IRS??? By the way, did you ask for the persons full name and law firm for which they are employed? If so, did you call and talk to someone with authority? You also have the option of filing a complaint with the Federal Trade Commission and your State Attroney Generals Office at which time a halt may be used until the matter is resolved...

I am not a legal representative, so this information is just a suggestion...

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