Stop banks from making you pay for a car they sold for less than it was worth
- por: Jill Belanger
- destinatário: Southern California Credit Union and other loan institutions
Stop the banks from taking a car, telling you they would sell it for the blue book value, and then selling it for an extremely low price, and making you pay off the remaining amount!!! I don’t think it is right when your car gets repossessed ( I gave mine back voluntarily) and the bank sells it for less than it was worth just because they have your signature on a piece of paper that says you will pay the remaining amount of the loan. They auction off the car for any amount of money and make you pay the remaining amount. They don’t care that you would have paid it if you could, that you gave them back the property and it is worth a blue book amount but they know you will pay, so they just give the car away. If your house gets repossessed they don’t make you pay the remaining amount of the loan. Why do car loans get to do this? That is what I’m going to court to try to put a stop to. How many of you out there have had this sort of thing happen to you? Please help me put a stop to this by signing my petition! Thank you!!!
Stop the banks from taking a car, telling you they would sell it for the blue book value, and then selling it for an extremely low price, and making you pay off the remaining amount!!! I don’t think it is right when your car gets repossessed ( I gave mine back voluntarily) and the bank sells it for less than it was worth just because they have your signature on a piece of paper that says you will pay the remaining amount of the loan. They auction off the car for any amount of money and make you pay the remaining amount. They don’t care that you would have paid it if you could, that you gave them back the property and it is worth a blue book amount but they know you will pay, so they just give the car away. If your house gets repossessed they don’t make you pay the remaining amount of the loan. Why do car loans get to do this? That is what I’m going to court to try to put a stop to. How many of you out there have had this sort of thing happen to you? Please help me put a stop to this by signing my petition! Thank you!!!
Stop the banks from taking a car, telling you they would sell it for the blue book value, and then selling it for an extremely low price, and making you pay off the remaining amount!!! I don’t think it is right when your car gets repossessed ( I gave mine back voluntarily) and the bank sells it for less than it was worth just because they have your signature on a piece of paper that says you will pay the remaining amount of the loan. They auction off the car for any amount of money and make you pay the remaining amount. They don’t care that you would have paid it if you could, that you gave them back the property and it is worth a blue book amount but they know you will pay, so they just give the car away. If your house gets repossessed they don’t make you pay the remaining amount of the loan. Why do car loans get to do this? That is what I’m going to court to try to put a stop to. How many of you out there have had this sort of thing happen to you? Please help me put a stop to this by signing my petition! Thank you!!!
This car is a 1941 Lincoln Zepher which was valued at $27,000. I owed $11,000 on the loan and my husband had a stroke. I lost 85% of our income and had to sell the car. I sold it twice on ebay for $15,000 which is the blue book value but the people who bought it backed out at the last moment. The Credit Union wanted their money and offered to sell it for me and promised me that it would be sold for the blue book value. So I voluntarily gave it back to them. Then, a week later, they told me I had to sign a paper that stated I would be liable to the remaining part of the loan if it did not sell for the remaining part of the loan. Three months later they called me and told me they sold the car for $6000 and wanted the remaining $5000 right now. Right! My payments were far less than that and if I couldn't come up with the payment, what make them think all of a sudden I could come up with $5000 in one lump sum!? They are now sueing me in court and I'm am trying to fight it. I don't think it is right what they did. Also they told me they had an offer for $8000 the week before but they were holding out for the blue book value and didn't take that offer. Then why did they take the lesser offer the following week? Because the auction house only holds cars for three months. Think someone was in on this deal? I do too. Please help me win this case!!! Sign my petition!!
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