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WHY CAT~~~~~~>REPO????
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Posted by Tell me Everything.....
(152.163.252.134) on December 28, 2003 at 21:56:59:
Ok.... Hubby had a repo many moons ago....
Original Bank, that gave him loan was in NY.
car repo'd by them. (which BTY they never reported nor account nor the actual repo.
They sold it to a Bank in tenessee.
Now this Bank in TN has reported the repo this year as repo'd this year.
Now I know they can't do this the car was repo'd many moons ago. LOL
I have sent the letters requesting all the info pertaining to the repo.
We received all the info back, where the car was sold, when, how much etc.
Can you believe, the car was worth 10K they sold at $700.00
Now what do we do?
they have offered him a settlement of 3K from 7K balance on the loan.
But, 1st he was never notified of the auction.
2nd the dates are inaccurate, Major violation.
3rdly the car was sold way below fair market value, as per the Kelley Blue Book of the year the cars was sold, and thirdly, it was a voluntary repo.
Its reported in-voluntary, He took it to the dealer...
Now what should be our next move?
We will be closing on our home in 1 1/2 year, and I don't want this on here.
Reason closing is so far is its a new contruction...
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