Car Bank

Reposesed car before auction bank harrasing me fireside?

I just had a car reposesed two weeks ago. The bank is not calling threatening to sue and garnish my wages if i don't pay the full loan debt owed and all the fees. The car has not been auctioned off as of yet. The bank is Fireside has any one had any experience in this manner or with this bank. I would be willing to pay some but this doesn't sound right. I owed 6K and they want 8K.

The bank "must" follow all of the required repo laws for your state to collect a deficiency balance.

It's possible that they are offering you the chance to redeem the vehicle.
In some states they must allow you to redeem the vehicle by paying the past due "payments" plus repo fees.
In other states they can require that you pay the "full amount" owed plus repo fees.
You would have to read your states repo laws to know what they can or cannot do.

With repo's they must provide you with all of the required notices before and after the sale. (much depends on your states laws on exactly what notices must be sent)
They must allow you the opportunity to redeem the repo (again, much depends on your states laws)
They must sell the vehicle in a legal and timely manner (generally within 2 months or so after the physical repo)

Like I mentioned above, they may be offering you the opportunity to redeem the repo before the vehicle is sold. The extra amount being charged is probably the repo fees.
If you plan on redeeming it, you can request a complete breakdown of the fees they are charging.
(you should read your states repo laws. you will then know if the amount of fees they are charging are legal charges or if they are inflated illegal charges)

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