Re: Repossession ("Justwannapay")
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Posted by WHY CHAT (209.240.198.61) on July 04, 2003 at 09:17:23:
It looks as if you do not meet the 60% rule on payoff vs. sale price, also the notice of redemption IS NOT the 20 day notice of a "right to cure". The 14 day time limit on notice of sale seems inside the guideline. The fact that they did not tell you the circumstances of the sale MIGHT help you. I suggest you VERY carefully put every scrap of paper relating to this transaction, write down everthing hat happened that you have no paper record of,and be prepared to defend yourself if they should sue for the deficiency. I do not suggest you make ANY "deal" with anyone on settling or paying anything on his account, you probably can demonstrate that Ford did not STRICTLY adhere to the repo laws, particularly NO 20 day "right to cure" notice, and no proof of the sale being held in a "commercially reasonable way". IF you have other debts besides this,and cannot seem to get out from under, you might consider filing BK CH7. I have linked the original thread below.
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