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Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44178
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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We had a repossession agent come out to discuss our car, we

Customer Question

We had a repossession agent come out to discuss our car, we explained our why our finances had been tight and that we had been trying to catch up on mortgage etc as therewas no income for 3 months due to my husband being assaulted. I offered to pay $500 then and the rest the following week , i said $1100 a month for a car payment was making life hard.The guy who came out suggested we do a voluntary repossession as my we only needed 1 car due to my husband going back to Fifo work and it was better to loose a car than our house. I told him i had mentioned this previously but the shortfall would be too high like $40,000 and i was worried they woul take my other car. He showed me the contract of the car that was being repossessed and explained how things would work. He looked over the car and said it was in like new condition an that if we gave it back the company would sell it at auction. I asked how this worked and he said they get the car valuued and sell it for market value to ensure they get most of their money back. After looking over the car, he stated that market value would be about $35000, so that would pay most of the contract out, and with some fees we would end up with with maybe a shortfall of about $5000 that we could pay off. I was wrapped as this would help get out finances on track as the car payment was $1100 a month. He said think about what weve discussed and call me on Fri. I contacted him and organised a day for him to come and get the car. I left the keys in the letter box as i was going to be out. I ame home later and the car had been taken, no paperwork or anything was left to indicate this. I think it ws roughly about 4 weeks later i receive a letter from the leasing company and i was devastated. The letter said basically your asset sold for $17,000, fees $5000, please pay $29000 within 30 days. I rung the company to see what was going on and the guy was not interested in what i had been told. He said we got an independent company to value your car, they said the market value was 11,000 we sold if for $17,000 so you pay the rest. I asked who valued the car as i could have sold i privately for twice that and he said an independent company, He wouldnt give me any further information as he said i cant dispute it, it was sold on that date and thats that. I explained that if I had was informed the shortfall was would be that high i would have kept the car as i am no better off. The car is only in my husbands name , the creditor questioned my income and said we had to start paying $250 min a fortnight and once Dereks other car payment was finalised that this can increase to approx $700 a fortnight. I explained that if we could do that we would have coninued with the car payment. He said write these details down and commence payment and gave me some banking details , he would accept anything less.he said that there wasnt a spare tyre or a spare set of keys for the car thats why the market value dropped so much. The car was a 2008 limited edition grand cherokee jeep which had only done 70000 kms. There is no way market value was $11000. Since that phone call i have been waiting to receive information in some form of paperwork but I have had nothing. one email to myself tsaying to ring and discuss a financial matter, then a phonecall to say to call him last week before close of day otherwise this will esculate. This contract has not got my name on it anywhere, it is completely in Dereks name. It just doesnt sound right to me. The repossesion guy was at my house for a good 40 mins explaining the contract the way it will work, the outcome and seem We were just lied to completely. We had the jeep for 2 years, the contract was for for, The sale price was $40,000 when we got it, another thing the repossesion guy said was Jeeps drop their value alot. The outcome means we will end up paying a total of $60000 for a car we dont have. The guy who discussed everything with me has been in this bussiness for over 20 years and with this company for years. I rung him and told him what happened and his exact words where "Thats Bullshit, leave it with me i will make some calls.......never heard from him again, I feel i reallygot played for a fool
Thanks Dawn
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.

Good Morning,

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.

I assume that you have nothing in writing from the person that told you that he would sell it for $35,000.00?

Had you checked to see what the car was worth to sell yourselves?

Is he prepared to give you anything in writing to back you up ion any claim for being mislead?

Expert:  Leon replied 1 year ago.

Good Morning

Just following things up and seeing if there is anything else I can assist you with?