Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
On a vehicle repossession, in order to claim a deficiency judgment the lender must prove they sold the vehicle at or near FAIR MARKET VALUE. If they did not sell the vehicle at or near fair market value, then you can object to the deficiency in court and prove fair market value and they would only be entitled to the difference between fair market value PLUS any reasonable fees or charges for the repossession and the loan balance. So, you can fight them over the fees and charges not being reasonable and also over the sale price of the car not being fair market value. I would suggest using a local consumer protection attorney to fight them in court over their charges they are seeking.
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