New Jersey | Credit and Debt Law
Legal Question
Car repossession-put lein on house?
My car was repossessed because I fell 40 days behind on the payments. I told the finance company that they could keep the car. I now have received a phone call stating that I still owe over 7000 dollars on the car. Apparently they sold it and want to get the interest that they could have gotten if I had gone the full term of the loan. The total amount I paid was 3000 dollars over the sticker price so the monies left to pay would only be interest.
They say if I don't pay that they will put a lein on my house. Can they do that without going to court, and I'm I responsible for the remaining interest? At the time of the repossession I owed 6900 dollars to payoff the debt. They sold the car for over 3000 dollars. So do I have to pay them the 7000+ dollars they are asking?
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Legal Answer
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Read More Answered By: Robert Gleaner |
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