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Judgement and garnishment...help!

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Posted by Teena ( on November 02, 2002 at 10:49:38:

Hello and thanks for your help in advance! I live in the state of Alabama, and in 1988 I bought a car for 24,000 thousand dollars. I made payments and carried insurance successfully. I married a year later, and my insurance was dropped because of my husbands driving record. First Alabama bank took out there own single interest insurance adding it to my payment. Subsequently right at the end of the five year term of making payments, the bank insisted I pay a ballon balance of insurance payments, which totaled over five thousand dollars I didn't have, and they wanted all the money upfront. My car was reposessed in 1995, and sold at auction for well below the fair market value, and I feel the sell was not commercially reasonable. I was left with paying the deficienty of 5600.00 dollars. A judgement was entered a few months later in 1996, I was not given notice of a court hearing. My wages was garnished. I have had the garnishment dismissed, but know this is only temporary. I did this in order to give me time to prepare for some kind of action. What would you advise? Can I have this judgement vacated, and also this bank was sued because of the single interest insurance it imposed on nonsuspecting clients, and apparently there was a class action suit. I know I've paid alot of money for that car, plus loss my car because of that insurance. Help...please!
Also I'd like to know if SOL in a written contract starts after default is made, or last activity? If I understand corrected default can actually be a missed or late payment. Also couldn't default be the failure to maintain insurance, even if canceled?


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