Re: Questions on a Repo

Posted by Suzanne (63.185.113.6) on May 20, 2004 at 20:26:41:

In Reply to: Re: Questions on a Repo posted by Why Chat on May 19, 2004 at 23:15:53:

I did not sign any papers when they repossessed it. The car was sitting in their repair center because they were under the assumption I was going to pay for the repairs. When I found out that the repairs were going to cost more than the car was worth on trade in, I told DriveTime's Collection Manager I didn't want the car back. Never got any mail from them to sign.

The notice of deficiency did not list the place where it was sold. It says

Aggregate amount of obligations secured by the security interest, less unearned finance charge as of 4/28/04 $9,371.74

Amount of proceeds of the disposition: $3,400.00
Aggregate amount of the obligations after deducting the amount of the proceeds: $5,971.74
Expense for preparing disposition: $143.00

The amount of the deficiency: $6,114.74

The purchase price of the car: $12,258.35
@28% interest, amount to be piad: 18,885.21

I paid all but 9,371.74 - so about half of the cost of the vehicle was paid for.

So where do I stand?

Follow Ups:

Post a Followup