Re: CA repo questions

Posted by Why Chat (209.240.198.61) on February 06, 2003 at 08:06:41:

In Reply to: CA repo questions posted by LG on February 05, 2003 at 22:24:33:

There are VERY strict rules and laws covering deficiency judgments and/or claims for repos.

Ca in particular has MANY hurdles for the creditor to leap before they can legally collect on a repo .

I suggest you get a consumer lawyer to help you out. In particular, you need to see if Ca has a 60% rule,if you were given full documentation and all required notices prior to the sale, if the sale was carried out in a commercially reasonable manner,if there was full accounting of the $$ for the sale, the "pay-off" figure of the car at the time of repo etc. etc.

Plus, the time that elapsed from the repo sale date and the demand for payment on the deficiency.

Follow Ups:

Post a Followup