voluntary repossesion

[andrewmike]

What is the name of your state?North Carolina


I recently had back surgery and gave up my lease on a corvette. Now they have sold the car and want me to pay the remainder of the valued lease. They have sent it to a collection agency that want to settle by the end of the month. I have not heard from the bank and donot know what they have actually done since I turned over the car to them. I donot have the cash money needed to settle this. What is the steps I need to take to address this action?

 

[racer72]

Find some way to pay the deficiency, hopefully before you are sued and a judgment is granted.

 

[LaLuna Girl]

Not to mention that a voluntary repossession shows up on your credit report the same as a regular repo.

Look over your lease contract, I'm sure there is a paragraph in there covering this issue.