repo settlement paid. now they want more money?

I recently had a court settlement for a car finance company. I finished paying the settlement for the repossession. When I asked the finance company to get it off my credit record, they say they can not do so because I still have a remaining balance. The car is now worth about $10,000 in today's kelly blue book value. When I bought the car in 2006 it was for $15,000... Before it got repossessed the balance due was $8,000. The court settlement was for $2,500..My checks were garnished and the settlement was paid. Can the finance company still charge me the remaining balance, even though there was a court settlement agreement?? They sent me a letter stating that I needed to pay the remaining balance by a certain date. I'm I still liable to pay?

State?

And did the finance company accept the $2500 as payment in full (unlikely with an $8k outstanding balance on a car worth more than that), or was the agreement that you get the car back for $2500 which brought the past-due payments up to date and covered the repo and court fees? Chances are it's the latter, in which case you still owe money and better get paying unless you want another repo.

QueenofEngland said:

State?

And did the finance company accept the $2500 as payment in full (unlikely with an $8k outstanding balance on a car worth more than that), or was the agreement that you get the car back for $2500 which brought the past-due payments up to date and covered the repo and court fees? Chances are it's the latter, in which case you still owe money and better get paying unless you want another repo.

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Yes, there is clearly more information than is posted .. + I don't see a company working to remove a mark on your credit rating. Once they are done with your case they will not do anything about your credit mark .. why would they?

So, I cannot answer your question OP due to the lack of information.

QueenofEngland said:

State?

And did the finance company accept the $2500 as payment in full (unlikely with an $8k outstanding balance on a car worth more than that), or was the agreement that you get the car back for $2500 which brought the past-due payments up to date and covered the repo and court fees? Chances are it's the latter, in which case you still owe money and better get paying unless you want another repo.

Click to expand...

This is in California.

The finance campany had to accept the settlement, but the court papers say they were not satisfied. I no longer have the car. This was a few years ago, so I'm sure they must of sold it in auction and got money out of it. But this was a court settlemtent for the remaining balace. Why should I still owe money after the court settled it for a certain amount?