mtnair

California Repo Question

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DS called BofA and told them where his van was parked. January 11th they picked it up.

Yesterday he got a Explanation of Deficiency or Surplus from BofA.

They are wanting just over 4K. (Includes balance plus 1,240 repo expense, 320 repairs expense, 99 commission of sale)

In the body of the letter it mentions in bold print "This is an attempt to collect a debt. Any information obtained will be used for that purpose."

It also mentions to contact BofA immediately at the phone number listed above (there is no phone number listed above, although there is one listed below.)

He also lives in Calif., where OC are treated the same as CAs.

According to what I have read they were suppose to send a notice to him on when the sale was. He never received such a notice.

Any ideas? I was thinking that he should respond with a letter asking about that notice, sent CMRRR.

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Hi Attorney,

I just read your reply - I never fully resolved a repo issue from several years back. The notice of sale must be sent both before and after the vehicle is sold? Also, what other things must be listed in the deficiency notice?

Thanks.

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