Recent Feedback
I am scheduled for Pre trial conference on Civil case in which I had a title loan I had been paying for two years, and I had paid what I had borrowed but not the interest was never gong to be paid. I paid them what I borrowed plus 2500.00 my vehicle was repoed after I was 30 days late sold at auction for 1/2 of its value. Now they are still seeking the cost of the original loan. Is there anything I can do? Bankruptcy on the judgement
The purpose of a pre-trial conference is to determine what the status of the case is, whether there are any preliminary matters or procedural disputes that the court needs to resolve prior to trial, and to pressure the parties into reaching a settlement.
One issue that you might be able to raise, which would prevent the creditor for coming after you for any asserted balance/difficiency, would be the appropriateness of the auction. When a vehicle is repossessed and sold at auction, the seller must meet certain criteria such as publication and notice in order to be able to come after you for any shortfall should the vehicle sell at a low price. In addition, in most states, you must be given notice of the sale, a right to redeem (or pay past due amounts to regain possession), and be given an opportunity to retrieve your personal property. Finally, some states prohibit vehicles from being sold below a certain threshold percentage of the vehicle's true value. You can raise all these issues and force the creditor to address them.
I would also ask for an accounting. It seems odd that you would have paid back the purchase price of the vehicle, plus $2500, and yet still be so far behind on the original note. Certainly, they will try to charge you collection/repo costs. Still, I would assert that the amount sought is in error and the collection/repo fees are unreasonable.
Finally, if bankruptcy is really an option based on your overall financial situation, then this is certainly a obligation that can be discharged.
Please let me know, if you have follow-up questions.
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Experience: Attorney and small business owner with 10 years experience in the general practice of law.