CA validates within 30 days but debt amount increased.......hmmmm

[lavs412]

Hi everyone

Here's my story......

OC: Ford Motor Credit

CA: Calvary

Attorney for Calvary: Joseph Titlebaum

Original Amount: 1,113.00

Collection amount: 1300.00

DOFD: 11/04

Dv'd the attorney and he responded within 4 days with copies of contract, repo documents and amount of $1,113.00 which is the amount reported on CRA.......Now Calvary/atty saying the amount is 1300.00.......This is my debt and I know I have to pay it but want to try and settle for less if i can, because i know they didn't lose a dime when they repo'd it.....the car was only 5 months old!!!....should i bother questioning the increase or just try and negotiate ..............

TIA

[ALVA]

because i know they didn't lose a dime when they repo'd it.....the car was only 5 months old!!!....should i bother questioning the increase or just try and negotiate ..............

They should only be able to collect the difference between what was owed and what they sold it for, plus expenses.

So, are they claiming they sold it for 1,113.00 less than the original loan amount? The additional balance may be expense fees for detailing and auctioning, collections, etc.

[Credithis]

a Repo voids the initial contract and now it is covered under TILA.

Look here and learn, did all required notices get to you? There are several requirements needed.

http://whychat.5u.com/repoltr.html

Take Care! Good luck!!

[Debt Guy]

OP

be careful -- there has recently been some conversation that a lot of the whychat resource is inaccurate

Besides, I seriously doubt that TILA would govern in such a situation. UCC, maybe. TILA, nah.

You need to decide if you want to fight or make this go away. You can do either or the other but not both at the same time.