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Barrister, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 37790
Experience:  Attorney,16 years experience in consumer protection areas
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I did a voluntary repo and now they want me to pay. I told

Customer Question

I did a voluntary repo and now they want me to pay. I told them i would pay only if they gave me the car back they told me that they could not give me the car back because it was auctioned. So now im being sued what can i do
Submitted: 2 years ago.
Category: Consumer Protection Law
Expert:  Barrister replied 2 years ago.
Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can..Unfortunately a voluntary repo is still considered a repossession, it just allows the debtor to avoid the additional costs of having a repo company come out and physically retrieve the vehicle. After the repo, be it voluntary or involuntary, the creditor can then sell the vehicle at auction and pursue the debtor for any deficiency between what was owed and what it sold for at auction..So legally, unless you are able to settle the matter with the creditor, they can sue under a breach of contract for the full amount due for any deficiency and then try to collect on any judgment. You could tell them that you are thinking about filing bankruptcy if you can't settle the matter and that will give you some leverage to get them to settle. They know that if you actually filed BK, then they would get nothing and be out not only the deficiency amount, but also several thousand for an attorney to sue you for a judgment...thanksBarrister