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Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 53576
Experience:  Licensed attorney helping individuals and businesses.
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I just had GM Financial repo my car and sell it at auction.

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I just had GM Financial repo my car and sell it at auction. They are still trying to make me pay $5,000 on this car loan after they repoed it and sold it. I don't feel I should owe them anything since I don't have the car any more and it was collateral. Do I still have to pay them and can they keep calling me every day?
Hello and thank you for the question. I am sorry to read of this dilemma. Often the creditor wont pursue you further. It will often release. Legally, it can pursue for any balance still owing though but must credit you with payments you made and amount it recovered from resale after repossession. It also cannot harass you on a daily basis, but must make demand in writing and proceed to sue per the fdcpa.
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