Rescission of contract. HELP!!!!

[fahyta]

On the 23rd of July, my husband and I purchased a 2005 Ford Explorer. We filed bankruptcy last year after Katrina (military family), and were not too surprised when we got a "notice of recsission" on the 25th of August. It was late when I checked my mail, and decided to call the dealership Monday to tell them I'd bring the car back Saturday (the2nd of September). The guy wasn't in so I left him a message saying just that with no return call. Tonight, Wednesday, August 30th, I got a call from a finance company telling me that my payment is due September 6th. I've already gotten another car, anticipating the return of the "rescinded contract" car.

So my question is simple. Do I have to keep this car?? Can't I hold them to their Notice of Rescission?

Thank you!
Annie F.

 

[betsyduncan]

opinion only

did the notice have a requirement for how to respond?? If so, that could be your problem. However your circumstances seem drastic. you should contact them via phone inititally and everything else should be in writing. hopefully they will not hold you to this due to the extreme nature of your situation.

 

[Michael Wechsler]

On the 23rd of July, my husband and I purchased a 2005 Ford Explorer. We filed bankruptcy last year after Katrina (military family), and were not too surprised when we got a "notice of recsission" on the 25th of August. It was late when I checked my mail, and decided to call the dealership Monday to tell them I'd bring the car back Saturday (the2nd of September). The guy wasn't in so I left him a message saying just that with no return call. Tonight, Wednesday, August 30th, I got a call from a finance company telling me that my payment is due September 6th. I've already gotten another car, anticipating the return of the "rescinded contract" car.

So my question is simple. Do I have to keep this car?? Can't I hold them to their Notice of Rescission?

What does the Notice say? That's the first place to go. Second would be to see what your rights are in conjunction with the original agreement.