QUESTION
Do I still have to pay a third party for a repo after the car was sold?
Asked on May 02nd, 2017 on Bankruptcy - North Carolina
More details to this question:
In 2009 I did a voluntary repo. The car was sold. I got a letter from a third party stating I still owe money. The judgment is not on my credit report anymore but at least twice a week a sheriff is delivering me a letter saying g how much I owe.
1 ANSWER
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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Unfortunately, I am required to make a few assumptions with the information given to answer. If you turned in the vehicle and it was sold for less than what was still owed, you are liable for the difference. A judgment could have only happened if you were sued and lost. If you were sued, the judgment would last for 10 years and could be renewed for another 10 years no matter what your credit report shows. I will say it unusual for the sheriff to deliver mail twice a week for the same issue. Make sure you don't ignore any of the notices.
Answered on Jul 30th, 2017 at 11:27 PM