car broke down, towed and resold without knowledge still being financed under my name

[blackpez0]

I live in Denver Colorado. My ex had a car that I had consigned on. We were unable to make the payments and eventually the car was set to be reposesed. I was told by him it was taken by the bank to later find out he left the car on the side of the road in the mountains broken down. The bank had no knowledge of where the car was and that I still owe the remaining balance. After ordering a carfax I found that the car was retitled to a towing company, sold to a dealership and then purchased.

The bank said they weren't contacted. I was not contacted. I know you can retitle a vehicle if it's abandoned BUT it was still owned by the bank???

Any advice on what steps I need to take, who I need to contact... Anything would help. At this time all I have is the carfax report.

 

[TigerD]

Your ex abandoned the car.
There is nothing you can do.

DC

 

[blackpez0]

According to Colorado laws they are supposed to contact the bank that has a lean on the vehicle and notify them where the car is located. Since that was not done I need to find out what I can do in order to get the value for the car off of what I owe considering it was supposed to be repossessed.

 

[TigerD]

According to Colorado laws they are supposed to contact the bank that has a lean on the vehicle and notify them where the car is located. Since that was not done I need to find out what I can do in order to get the value for the car off of what I owe considering it was supposed to be repossessed.

What is your cite?
Who are "they"?
What is your proof that the bank wasn't notified?

DC

 

[blackpez0]

What is your cite?
Who are "they"?
What is your proof that the bank wasn't notified?

DC

I live in Denver Colorado. I am unsure what county the car was located in.

" They" being who ever had applied to get a salvage title. From what I can tell it was a towing company but I'm unable to obtain any information from the dmv unless it's specifically in regards to my ownership of the vehicle.

I talked to the bank and they thought I was still in possession of the vehicle.

 

[TigerD]

I live in Denver Colorado. I am unsure what county the car was located in.

" They" being who ever had applied to get a salvage title. From what I can tell it was a towing company but I'm unable to obtain any information from the dmv unless it's specifically in regards to my ownership of the vehicle.

I talked to the bank and they thought I was still in possession of the vehicle.

The car was abandoned on the side of the road (public property). That means the tow was ordered by the police, sheriff, or state trooper.
Read this: http://www.colorado.gov/cs/Satellite?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1251643181261&

That details exactly the process used.

DC

 

[racer72]

According to Colorado laws they are supposed to contact the bank that has a lean on the vehicle and notify them where the car is located. Since that was not done I need to find out what I can do in order to get the value for the car off of what I owe considering it was supposed to be repossessed.

The bank has the problem, you don't. Your only obligation was to pay for the car as a co-signer. Who has the car has nothing to do with the value of the car or how much you owe the bank. It appears the vehicle was sold at an impound auction, it was not sold as a result of a repossession. You and your ex borrowed X amount to buy the car, you now owe that amount less what has been paid plus any interest and/or late fees. There could be other issues as a result of the loss of the collatoral, banks don't like that.