Repo Accounting

well I got a car at a used car lot and got in house financing on it. I put 1000.00 down and the balance of 2000.00 was left for me to pay. It was an As-is sale. Within first month the car stopped working for some reason. I called the car lot they fixed it for free I got it back. That same month it stopped working.. I then moved to a new address and eventually called for them to come pick it up. I have no proof that they took it. But when I went to apply for a car loan, now mind you this happened in 2004 and its now 2008. they are saying i owe them the full price. i was young and naive and dont have any of the paper work for the car that i signed. what do i do?

AFATASI

————

Hello Afatasi,

In addition to the FDCPA and the FCRA, check out your rights under UCC 9-210 for an additional $500 in bonus points for a repo.

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice.  Please consult an attorney for legal advice.