Van problem

[ladyc52]

I had lease a Ford van about three years ago. Making monthly payments, but there were time when I did not make the payment on time, but still making the payments. One afternoon I came home from work and the van was gone. I then called the Ford Company and was told that they came and take the van back because I was delinquent in my payments.(mind you I was still making monthly payments). Three years after, I did not get anything in the mail or never went to court but all of a sudden they have my company taking money out of my pay check to pay for the van. How is this possible? I don't have the van they took it three years and months ago. It this right what they're doing? Do I have a case if I take them to court.

 

[Michael Wechsler]

Did the sale of the van cover the amount of money (1) you borrowed PLUS (2) the cost to Ford for seizing your vehicle and selling it for salvage value? Likely this is not the case and you owe them money. I would be highly surprised that you didn't receive anything at all in the mail regarding the problem.

The above makes sense and is probably in your contract. If you borrow $10,000 and have a $9,500 balance when the van is towed, but the van only sells for $5,000, it makes sense you owe them $4,500. They probably sent you a demand letter and added towing and auction fees. You might as well investigate and see if this is the case. It will likely not be easy to fight (and possibly a worthless exercise in court unless you were wronged) although sometimes there is negotiation.