rsend

[rsend]

What is the name of your state? Tx I had bought a truck about a year ago and was unable to pay it due to lots of bills and illness the finance company or lien holder told me to turn it it as a repossesssion and all would be settled well just recently i get a call from a lawyers office stating that they resold the truck at auction and didn't get the full price that i was responsible for paying off the rest or else they would sue me. Now what i want to know is can they sue me and for what i do not own anything?

 

[Neilson]

What do you mean you don't owe them nothing, you owe them for the truck, even if you gave it back. They helped you out by auctioning it, they didn't have to do it. They could have just sold the truck again, and be getting two payments for it, yours and the the person that brought it.

 

[Tayla]

What is the name of your state? Tx I had bought a truck about a year ago and was unable to pay it due to lots of bills and illness the finance company or lien holder told me to turn it it as a repossesssion and all would be settled well just recently i get a call from a lawyers office stating that they resold the truck at auction and didn't get the full price that i was responsible for paying off the rest or else they would sue me. Now what i want to know is can they sue me and for what i do not own anything?

fast is correct. Judgements can transpire for the balance owed on the original loan amount. A misconception is that simply because a voluntary repossession transpired that somehow the debt is paid. Untrue.
A lien can be placed on any future items you purchase within the time frame of the judgement. Bank accounts can be garnished. My advice: Get an attorney to walk you thru the settlement of debt before it goes to trial. Arbitration is an avenue that you can request. Overall, veer from having a judgement placed...