Vehicle Repossession Ms confused

[MrandmrsAR]

We lived in california so the vehicle was purchased in california and moved to washington where the vehicle was reposesed. The bank would call us regarding getting the vehicle back and we were not able to pay the entire loan so we would say we couldnt. Several individuals kept calling with the same questions we answered already so we asked them to please only communicate with us via documentation. Every person said ok and they would make a note of it but we kept receving calls. We waited for a letter of when the car would be auctioned and never got one. We received a final notice of amount due (less than $200) after they auctioned the car and the amount was due 2 days before the letter was mailed and now the bill is over $1000. They have not made any further calls but keep making inquiries into my credit. What should i do?

 

[army judge]

We lived in california so the vehicle was purchased in california and moved to washington where the vehicle was reposesed. The bank would call us regarding getting the vehicle back and we were not able to pay the entire loan so we would say we couldnt. Several individuals kept calling with the same questions we answered already so we asked them to please only communicate with us via documentation. Every person said ok and they would make a note of it but we kept receving calls. We waited for a letter of when the car would be auctioned and never got one. We received a final notice of amount due (less than $200) after they auctioned the car and the amount was due 2 days before the letter was mailed and now the bill is over $1000. They have not made any further calls but keep making inquiries into my credit. What should i do?

No one can tell you what to do.
You can choose to pay the $1,000, alleged to be owed by you to the lender.
You can wait, and do nothing.
If you choose to do nothing, you might get sued.

You might not get sued because the amount owed is too small to go to court to recover. Why?
The lawyer will often cost a company more than the $1,000 they are attempting to get you to pay.

The company might keep hoiunding you, or a collections company will harass you.
The collector likely bought your note, if that happens, often for two or three pennies on ever dollar you are alleged to owe.

As far as credit inquiries, not much you can do t stop that. Why?
That doggone note you once signed for the financing.

You can try to see if the company will take an offer in compromise.
To attempt that, you write them a letter with yoru offer.
You send it certified mail, return receipt requested; or priority overnight US Mail, which is likely cheaper, byut will also get you a signed proof of delivery.

I wish you well.