Rooster2014
New Member
Hello
I got an auto title loan. I did not make the first 3 payments to repay the loan of $2,500 and they found my vehicle and took it.
The Kelly Blue book value of my vehicle was $6,600. I first received a letter from THE LENDER stating I had a balance remaining of $500.00.
Now I recently received a letter from THE LENDER indicating I owe them $2,500 but they will settle for a payment of $500. I'm not sure how I can owe this amount especially considering the value of my vehicle was far more then the debt owed. Can I find out how much they were able to auction my car for or how much was paid toward my initial debt to see how accurate this amount is? It just doesn't seem right that I should have a debt of this much and I'm unable to get any further info from them. Any help of information would be greatly appreciated.
I got an auto title loan. I did not make the first 3 payments to repay the loan of $2,500 and they found my vehicle and took it.
The Kelly Blue book value of my vehicle was $6,600. I first received a letter from THE LENDER stating I had a balance remaining of $500.00.
Now I recently received a letter from THE LENDER indicating I owe them $2,500 but they will settle for a payment of $500. I'm not sure how I can owe this amount especially considering the value of my vehicle was far more then the debt owed. Can I find out how much they were able to auction my car for or how much was paid toward my initial debt to see how accurate this amount is? It just doesn't seem right that I should have a debt of this much and I'm unable to get any further info from them. Any help of information would be greatly appreciated.
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