If atowing company sold my car at auction without informing me first andI am still paying the finance company, what canI do?

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If atowing company sold my car at auction without informing me first andI am still paying the finance company, what canI do?

Asked on December 20, 2011 under Bankruptcy Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Most likely the lender that you have been making payments on the vehicle that you are writing about had the car impounded and later sold at auction due to your inability to make timely payments on the loan.

If this is the situation, you need to contact the lender to ascertain how much the vehicle was purchased for at auction in that is the amount that you will be credited (or at least should be credited) on the loan's principal.

I also suggest that you consult with an attorney that practices automobile and lending law to further assist you concerning the situation that you have written about.

 


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