Can a Creditor Pursue a Debt After Writing it Off
My question involves an auto loan or repossession in the State of: New Mexico. I became behind on a vehicle that I put my savings of $10,000 as a down payment on and put another 10,000 in payments into it. The dealership then went out of business during the recession and so did Chrysler Financial who is the finance company I had at the time. I was wiring portions of payments in but before I could catch up for a month I got another month behind just as quickly. This went on for about 4 months. Once I was able to come up with all the money I owed to be up to date, I called to arrange an over the phone payment and was told my account was closed. The agent told me that per my contract I had a 120 day time frame to come to a zero balance, which I did not meet. I guess I missed that in the 7 hours it took me to sign paperwork at the dealership when I bought it. I never received any notice or correspondance about my account being closed and when I mentioned that the agent told me that they are not obligated to notify me about that. :wallbang: I asked to talk to the supervisor, manager, person in charge and was told the same thing by all.
So I figured I would wait for them to take me to court and explain what I could before the judge and hopefully be granted the chance at payments once again, since I was now able to afford them thankfully. It is now approaching 3 years down the road. I have purchased an economy vehicle in case they do finally pick up my vehicle which I know they have been making every possible attempt to do. My credit report showed that the claim had been written off. Very confusing? I recently recieved a call at my place of employment from an individual claiming to be a Sargeant from a local police station asking for me. I was unavailable at the time, but was given the message. My family members also received calls which showed my number on the caller id yet was from the same individual who called my work on that same day. Is that legal?
Re: Can a Creditor Pursue a Debt After Writing it Off
Writing a debt off is an accounting measure - it doesn't release you from liability for the debt.