Repo Question Texas

[dallas01]

I'm not sure how to handle this problem so this is what I know.

My credit report for this car loan

Date Opened 07/2002 Date Really Opened 07/2002

Date last payment 10/2003 Real date 10/2003

Filed Bankruptcy 12/2003 Bankruptcy Dismissed 3/2004

DOLA 06/06 Real Date should be 3/2004 (bankruptcy dismissed)

Car was repo was 1/2005 I really can't remember but It wasn't any later than this date.

This company is showing a 0.00 balance but I've got 2 calls for the amount still owed. I've never talked to them my wife has. They've never told her how much is owed.

I've never received anything in the mail about the repo. Now this just doesn't make sense to me.

Do I owe them money?

Can they sue me?

When is the SOL up ?

All the dates have my head spinning and thats not hard to do.

[TEXASDEBTOR]

Was the auto loan included in the Bankruptcy? You are showing Bankruptcy dismissed, was it not completed (discharged)? If you included the auto in the bankruptcy you would have to return the collateral to the lender and then would not have been responsible for any deficiency. Since you said it was repossessed I would assume it was not included in the BK or the BK was not completed. With that being said, they can get a judgement for the deficiency. However, in my line of work (looking at credit reports) this is very unusual for a secured creditor to do. My understanding is that the SOL is 4 years from last activity.

[dallas01]

It was included in the Bankruptcy. The Bankruptcy was dismissed over a 60.00 payment. I didn't fight it.

They came and picked up the car from out in front of my house on the street.

So since they got the car back after the BK dissmissed, do I still owe the deficiency?

I know that SOL reverts back to the original late payment if BK is dismissed.

If I do owe deficiency what would the SOL date for that be?

They put on my CR that my BK was dismissed in June 2006 on my credit report. They already had the car by that time.

You would think they'd be showing a balance on my credit report if I owed a deficiency.

Thanks for any help!

[cjtx]

you can play the guessing game all you want but I think it's time to dispute the debt.... see what they got against you and for what amount before they sue.

don't forget to cite Texas Finance Code Sec 392 in case they claim they're not considered debt collectors.

[dallas01]

you can play the guessing game all you want but I think it's time to dispute the debt.... see what they got against you and for what amount before they sue.

don't forget to cite Texas Finance Code Sec 392 in case they claim they're not considered debt collectors.

I kinda think that would be stupid on my part to dispute a dept without knowing my rights on the repo. Thats what I'm trying to find out. When I can figure out that I'll dispute the info and find out.

I know theres something about having to send info on the repo, that they never did. Thats kinda what I'm trying to figure out.

I've been trying to find repo laws in Texas but haven't had any luck yet. I'm still trying.

Thanks

[LadynRed]

If you included the auto in the bankruptcy you would have to return the collateral to the lender and then would not have been responsible for any deficiency

This is incorrect. First of all, ALL debts must be included in bankruptcy, you can't 'leave out' anything. Secondly, unless you voluntarily surrender the vehicle, there is no requirement to give up secured property, usually people keep paying to keep secured property.

So since they got the car back after the BK dissmissed, do I still owe the deficiency?

Since it was dismissed.. YES, you owe the deficiency.

If I do owe deficiency what would the SOL date for that be?

Deficiencies would be 4 years from date of sale of the vehicle - unless they sue you and it is reduced to judgment.

They put on my CR that my BK was dismissed in June 2006 on my credit report.

Clearly that is incorrect - dispute it as such.

I know theres something about having to send info on the repo, that they never did

Then they may have forfeited their right to even collect a deficiency. UCC says they must first send you a notice to cure (bring the account current). Then you must be notified of the date, place and time of the sale. After the sale, they must send you a full accounting of what the car sold for, what the deficiency is, and all the fees they tacked on (sale costs, storage, etc.).

If they did NONE of those things, they did not follow the law and likely forfeit their right to pursue a deficiency.

So, dispute it ! If they sent the required notices make them prove it.

[dallas01]

Thanks so much for the info. Thats what I was looking for.

Do I just send the OC a letter saying that I dispute? What would I ask for when doing this?

Also after talking to my wife, when they called last year they did offer a settlement on the account for like 4,000.00 if paid then.

[LadynRed]

You send the dispute letter to whoever is trying to collect the debt.

[dallas01]

You send the dispute letter to whoever is trying to collect the debt.

Do I ask for proof that they followed the law in letting me know about sale, etc.

I just ran a check with the Dallas County Clerks office for any civil cases and I didn't find anything.