Re: Why chat, observer RE:Repo or Charge off?

Posted by Why Chat (209.240.198.61) on September 05, 2002 at 14:27:07:

In Reply to: Re: Why chat, observer RE:Repo or Charge off? posted by WCI on September 05, 2002 at 10:11:51:

"WCI" may know some "experts" but since he is completely wrong in his statment, I wouldn't take him up on his offer.

Vehicle loans and repossessions are in a completely different catagory than any other loans in all State statutes.

Your loan is not the issue, you cannot be sued or have any collection activity on the lan. The car has been repossessed,which means that the only claim against you that can be made LEGALLY is for the deficiency, that is IF it was properly sold at auction and IF you were given all the correct documentation, you MAY have been sued within a SHORT time period for the difference (shortage) . Other than that, there is no legal claim.

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