What is the name of your state?California.
I defaulted on my auto LEASE, and ultimately lost my day in court (naturally). I still have the car in question. The debt is no longer with Bank of America but is being collected by a third party ALLIED INTERSTATE.
I have a written agreement from Allied that if I pay a settlement amount of $9000 on the $32,440 balance..."The account will be considered settled and their client BofA/Sherman Acquisition will provide a satisfaction of judgement release".
Since I was being sued for the outstanding balance owed on the car plus the return of the car and fees...does this "satisfaction of judgement" automatically imply that my entire debt to B of A has been satisfied and even though this was a lease, I will be entitled to the Title of the car?
My concern is I don't know how the balance number of $32440 was arrived at, and have no idea if it's just the outstanding balance and attorneys fees, etc...or actually includes the depreciated value of the car.
Allied claims they have no idea either. They just get a slip showing the total amount owed, not how it was arrived at.
I do not have a copy of the judgement.
Does it matter? If I get a judgement release, even if they do not specifically state that I will receive the car's pink slip, am I legally entitled to it, since the car itslef, or the car's value was part of what they were suing for?
Thanks for your insight.
A
I defaulted on my auto LEASE, and ultimately lost my day in court (naturally). I still have the car in question. The debt is no longer with Bank of America but is being collected by a third party ALLIED INTERSTATE.
I have a written agreement from Allied that if I pay a settlement amount of $9000 on the $32,440 balance..."The account will be considered settled and their client BofA/Sherman Acquisition will provide a satisfaction of judgement release".
Since I was being sued for the outstanding balance owed on the car plus the return of the car and fees...does this "satisfaction of judgement" automatically imply that my entire debt to B of A has been satisfied and even though this was a lease, I will be entitled to the Title of the car?
My concern is I don't know how the balance number of $32440 was arrived at, and have no idea if it's just the outstanding balance and attorneys fees, etc...or actually includes the depreciated value of the car.
Allied claims they have no idea either. They just get a slip showing the total amount owed, not how it was arrived at.
I do not have a copy of the judgement.
Does it matter? If I get a judgement release, even if they do not specifically state that I will receive the car's pink slip, am I legally entitled to it, since the car itslef, or the car's value was part of what they were suing for?
Thanks for your insight.
A