Windham County Consumer Debt Attorney Explains When a Lender is Trying to Collect More Money After Repossession
I recently had a client come to me as a Windham County Consumer Debt Attorney about a lender trying to collect more money from him after his car was repossessed. If your car was repossessed several years ago and now get a collection letter or a suit is brought against you regarding additional monies owed, you should contact an experienced Windham County Consumer Debt Attorney immediately. Clients will be wondering if it is lawful and if you really owe the money. What has likely occurred is that there is a difference between the price the car was sold for post-repossession and the amount of the debt you owed at the time of the repossession. In this case, the creditor can bring suit against you for what is called the deficiency.
It’s important to contact an experienced Windham County Consumer Debt Attorney because the price it was sold to the third party for is required to be related to the blue book or NESD book value of the original collateral.