Auto Insurance

What is the legality of having to pay for a car that was voluntarily turned over a yr ago and being harassed about the amount due?


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2011-09-14 10:43:30
2011-09-14 10:43:30

Yor best bet is to try and ask for a settlement, but they may not offer one, as you may know by now a voluntary repossession will show up on your credit the same way a involuntary repossession will. you are required to pay the remainder of the balance. sorry but that's in your contract. you can also try to look at the fair debit collection act, and the uniformed commercial code to see if they are violating any statues involed in trying to collect a debit , if they are i would say to get it on tape and call a lawyer. I cover other topics about the repossession industry and banks breaking the law to collect a debit at


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Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they may ask you to take it to the repossessor. It'll be repossessed, auctioned off, and the amount they get from the auction will be deducted from the amount you owe. The finance company may offer a settlement at that point for an amount less than what you owe on that vehicle - that's up to the finance company.

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