Collections Law/Car Repo'd

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Expert: Ontrack Financial Group llc - 12/4/2008


Question
My car was just repo'd this morning. I know that I will have to pay the difference once it is sold, but everything that I have heard says that they will sue you for it. Is there a way to make payments on the difference without garnishments and court? Also, what is your opinion of debt consolidation services (not a loan)? Thanks so much for your help.

Answer
Dear Valerie,  

Thank you for your question.

The difference is known as the deficiency balance.  Yes, you can make payments on the difference without garnishment and the courts.   

Debt Consolidation companies that are not a loan are a scam.  Stay away from them.  The government is cracking down hard on them!

Debt Consolidation is defined as the replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period.  

If you need assistance with Debt Management contact a non Profit Consumer Credit.

If you need help with Debt Collectors or Law Offices we will assist you.  


Best Regards,

Ontrack Financial Group llc  

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Ontrack Financial Group llc

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With the credit market on a brink of collapse, the future of having good credit will be paramount. Loans will be near impossible to obtain with strict lending practices around the corner. Debt collectors and Law offices will use even stronger tactics to recover more of your hard earned money. Protecting you and your credit has to be a top priority. In 2000 Ontrack Financial Group llc founded the credit arbitration movement. More and more companies entered into the arena and new business models joined old ones. Only one company has the attitude and aptitude to truly assist our clients. Ontrack Financial Group llc is that company! With our proven credit arbitration solution, you can become Charged Off Debt free within three years or less. Our clients have eliminated their Charged Off Debts with our service and avoided communication with collection agencies and law offices in the process. Since the inception of Ontrack Financial Group™, we have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint. Ontrack Financial Group™ is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer.

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