QUESTION
Should I retain an attorney if a traded in truck has still not been paid off by the dealership and my creditors are coming after me?
Asked on Jan 21st, 2011 on Bankruptcy - New Hampshire
More details to this question:
I traded my truck in on 11/30/2010 and as of 01/218/2011,they still have not paid it off. The dealer keeps telling me they are broke. I have made one payment of $601.00 since I traded it in, and I am currently behind yet another payment. The lien holder has now placed a $5000.00 insurance policy on the truck and added it to the payoff because I could not provide them with proof of full coverage, which I should not have to carry on a truck I do NOT have! This happens to be a dealership that I used to work for and I do not know if they are doing this on purpose or what, but I do not have another $601.00 to give to the bank for a truck that I do not have. But I do not want them to ruin my credit! What do I do?
4 ANSWERS
William C. Gosnell
Yes, hire a lawyer.
Answered on Jan 24th, 2011 at 5:13 PM
Bankruptcy Attorney serving Hayward, CA
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Carballo Law Offices
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Yes, you need to see an attorney. You may also contact the Department of Motor Vehicles that licenses dealers and file a complaint because what they are doing is definitely illegal. DMV can suspend their dealer license and take other action against the dealer. They might be doing the same thing to other people. If they are broke they should not have agreed to take your vehicle as trade in and agreed to pay off the loan. Promising to do something without the ability or intention to do it is fraud. Therefore, there might be fraud involved if they knew they could not pay off the balance of the loan and gotten free and clear title to the truck.
Answered on Jan 21st, 2011 at 3:13 PM
Worker's Compensation Attorney serving Corona, CA
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Workers' Compensation Lawyer, Inc.
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I see this happen often. If you are in California, you should sue the dealer and file a claim against the dealership's bond ($50,000 minimum bond required).
If you are in southern California, please contact me for a further consultation.
Answered on Jan 21st, 2011 at 3:13 PM
Family Law Attorney serving Kingston, NH
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DiManna Law Office, LLC
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You should consult an attorney who can review the paperwork and give you some specific advice.
Answered on Jan 21st, 2011 at 2:43 PM