According to Consumerlawpage.com, a resale of a repossessed car must be conducted in a "commercially reasonble manner". If you believe that your vehicle was resold for less than fair market value, the resale is not commercially reasonable. Contact an attorney, your car may have been sold to "a friend" for a substantially lower price than what the car is worth.
You do not need an attorney to sue in most states.Sue the bank for not selling the vehicle in a c.r.manner.This is a scam because all the banks do is hold a closed auction where the dealers who sold you the car get the same car back at a huge savings and start the game all over again.Oh yeah and then the bank sticks you with the difference.
Absolutely. When an item is repossessed, it's typically auctioned off. The person who the property was repossessed from is still responsible for the difference between what the final auction price was and what the amount owed at the time of repossession was. Additionally, repossession, storage, and transportation costs will be added to the amount owed.
Yes, if you own the car being auctioned, you get the proceeds of the sale, minus the auctioneer's commssion. No, if your car was repossessed and auctioned by the lender, it would be rare that the proceeds, minus the auctioneer's commission would exceed the amount you owed on the loan. However, if it did, you would get the remainder. On the other hand, if the auction doesn't cover your loan, then you could still be sued for the remaining payments.
To buy auctioned car and save money you will have to go to the auctioneer and bid at a lower price.
The price of a slave could vary greatly depending on factors such as age, physical condition, skills, and market demand, but historical records suggest that prices ranged from a few hundred to several thousand dollars.
not if you still owe money on it
It will depend on the costs involved. If the sale of the home brings more money than the mortgage, the remainder will go first to cover the costs of the foreclosure. If there is anything left, it will be paid to the holders.
Do you have anything in writing??Cancelled checks???Your only recourse is to sue the individual who took your money.
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
The one who BORROWED the money and/or the on who COSIGNED the loan.
As long as you owe them money they can take it.