Possible reposession

[shadow65a]

What is the name of your state? Wisconsin

I've been dealing with a loan company for my car that has been nothing but a bunch of crooks. To make a long story short.... I did not receive any statements for4 months after I moved because they messed up my address change. I repeatedly told them I wasn't receiving any...they just assumed I was lying and didn't want to pay. I did make 2 payments over the phone but told them no more until I got a statement. Part of the issue has been they have been trying to charge me a ton of money because my insurance lapsed for 2 months and they will give me no account of what they are charging me in total.
The short of it all is that I refused to pay anymore until I got a statement explaining all the charges and they refused to send me one until I got one from their lawyer after a judgement was filed. Now they want a ton of lawyer fees also..... I can suck it up and pay them off.....or what will happen if I just let them take the car and be done with it. Besides wrecking my credit which I can live with...What are their options for trying to collect any balance in the future? I am self employed...don't own a home presently. Thank you.

[Ladynred]

I repeatedly told them I wasn't receiving any...they just assumed I was lying and didn't want to pay.

Did you ever put your assertions or send another change of address to them IN WRITING ??

Part of the issue has been they have been trying to charge me a ton of money because my insurance lapsed for 2 months and they will give me no account of what they are charging me in total.

You do have a right to know EXACTLY what you are being charged for. Is there any formal dispute procedure written into your loan documents or on your statements (the ones you did get) ?? Have you put your request and your dispute IN WRITING ??

The short of it all is that I refused to pay anymore until I got a statement explaining all the charges and they refused to send me one

While I understand your frustration, refusing to pay on a secured loan was the wrong thing to do. Now you have even MORE trouble.

Now they want a ton of lawyer fees also...

Yep, that's what happens when you get sued, YOU get to pay lawyers fees and court costs.

until I got one from their lawyer after a judgement was filed.

They don't file judgments, they file LAWSUITS, not the same thing. Once you LOSE the lawsuit, THEN you have a judgment against your for 10 or 20 years.

what will happen if I just let them take the car and be done with it.

What was the lawsuit for ??? You haven't paid and you STILL have the car ?? They have not tried to take it ? If you let them have the car, they will sell it at auction for far less than it's worth. You will then be additioanlly liable for the deficiency plus all the costs associated with the repo and sale. Typically you would be sued for that amount, but you say you've already been sued, which makes no sense with the details you've given.

What are their options for trying to collect any balance in the future?

Liens on property, siezure of bank accounts, siezure of non-exempt assets, garnishment of wages. In your case, being self-employed, you don't have traditional wages. No, you have a bigger problem. Since you are self-employed, all your income is considered receivables.. and they can take it ALL, not just the max 25% allowed by law on regular wages. You say you don't own a house but its possible for a lien to be attached to any property you buy in the future with an unpaid judgment hanging around.

[shadow65a]

Thanks for your advice, Yes... there was a change of address filed....but it was entered in their system wrong. I requested a statement of my account every time I talked to them for the past 4 months but they refused to send me one and/or said I was receiving them but just lying and didn't want to pay them.
When this finally all blew up about a month ago or so I did send a certified letter to the main office and their lawyer explaining my position and that I was totally willing to pay the loan just wanted written proof of where my money was going and what they were trying to charge me for. I finally received a print out of my account 10 days ago from the lawyer of all people. I also filed a complaint with the Better Business Bureau at the time I sent the certified letters explaining I was willing to pay but they would not account for my funds.
I have court on Monday.... this is for action against the car. I'm just planning on going in there and explaining the situation to the judge and see what happens. I'm just going to make it clear that I am willing to pay.... and have repeately told them I'm willing to pay but I just wanted a written account of everything but they refused. They repeatedly told me that they were under no obligation to send me any sort of statement and that it was just done as a "courtesy". Which, I think is B.S. because everyone should have a right to know where there money is going and what they are being charged for. Any company on the up and up would be willing to do that I would think. Thanks again.

[Ladynred]

Make sure you take copies of any correspondence to court with you. It always helps to have the paper trail backup to your assertions.

[shadow65a]

I had court this afternoon and the case was dismissed. I didn't argue that I was not making payments but explained to the judge why and explained that I had repeatedly offered to pay everything up but that I had not received an account of my funds for months and had been requesting that. He asked their lawyer if he had anything to counter that I hadn't been willing and offering to pay and he had nothing to say that I hadn't been. Judge looked at me...... asked me if I was willing and able to pay the loan off. I said yes. Then he said get together with their lawyer and get the paperwork done. Case dismissed. Not required to pay any court costs or lawyer fees either. Justice does work sometimes I guess!

[Ladynred]

Excellent ! Glad it came out ok for you.