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Collections Law/car has bin repersesed but wasnt theres

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Expert: Michael Brotherton - 9/17/2007


Question
QUESTION: hi my name is mandy wiggings we recently sold a car on payment terms and spoke to dvla and had to sighn the log to them . i belive the car has bin reperssed  bye a finace company ive tryed to get in touch with the other people and had no joy they havnt finnished the payment terms . we have a contract with the payment terms how do we get the car back or get the money as its still my car

ANSWER: Unless you have a recorded lien or the original title your buyer can do what they want with the title, including pawn it or get a loan against it. If they did this you may not have much of a chance of repossessing the car unless he (or you) pay the note on it. This may not be so likely since the buyer apparently cannot afford the other loan, let alone yours.

You can check with the finance company to see what he owes on it but you may not get any information if the car is in his name.

I'm not too optimistic about you getting your car back.

---------- FOLLOW-UP ----------

QUESTION: thankyou for your reply so how could i go about getting the money they still owe me for the car?

Answer
Check your local small claims courts to find out the procedure for filing suit. There is usually a small fee to file. You need to present all of your evidence to support your suit including any note they signed, payment receipts, deposits, etc...

Once you have a hearing the judge will decide if you have a case and set the amount of your judgement. The problem is collecting what is owed. You need to know where he works to file a garnishment. You may also be able to attach his checking or savings accounts. Talk to your courts about the procedure.

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Michael Brotherton

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Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).

Experience

Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.

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