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RoryLaine

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What is the name of your state? Texas

I sold a car to an individual based on 42 payments to be repaid monthly. Over the course of the last 2 years, several payments have been skipped as well as a few NSF checks. The most recent NSF check was this month. Last month she was threatening to not pay for the remainder of the loan. The car has literally been run into the ground with excessive wear and tear and is no longer worth what is owed. I would be willing to avoid this monthly stress by simply repossessing the car. I still hold title to the car. We originally signed an amortization schedule with the auto listed as collateral. I have been told I can repossess the car (the last NSF check has not been repaid) but that after I repossess the car, I need to send a demand letter offering her 30 days to pay the debt in full. I am looking for advice to make sure I have all my ducks in a row. PLEASE HELP SOON! Thanks.
 



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