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  1. #1
    Join Date
    Aug 2006
    Posts
    2

    Default Repo mess and confusion

    I wrote a previous question, but I have a little more information from the loan company we're dealing with so I thought I would try to rephrase my questions alittle. My husband had his car repossesed in 2000 the unpaid amount financed was 15166.85, the proceeds of the sale of his repossesed vehicle were 6100.00 plus the expenses of the repossession came to a total deficiency owed of 9595.85. We have now payed over 2400.00 and they are saying that the balance on the account is over 10800.00 because of interest that they have started charging us. They weren't charging interest in the beginning when we first started making payments to them again and now they are charging us interest and their only explanation that they will offer us is that 'it's the law' to charge interest.......... We can only afford to pay $100 a month on this...... What can we do to get out of this mess? Is there anything? Or can they just keep charging interest until we pay it off ( which will be never if that is the case )......Help please!

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Repo mess and confusion

    The prior thread is here.

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