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Repossession Dispute

This letter disputes a deficiency balance from a vehicle repossession. It requests proof from the collection agency and original creditor that proper legal notices were provided during the repossession process and that the vehicle was resold in a commercially reasonable manner, as required by law. The letter states that without such proof provided within 14 days, the deficiency claim will be considered null and void and any further collection activity or credit reporting on the claim will be a violation of federal law.

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tpeeples
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8K views2 pages

Repossession Dispute

This letter disputes a deficiency balance from a vehicle repossession. It requests proof from the collection agency and original creditor that proper legal notices were provided during the repossession process and that the vehicle was resold in a commercially reasonable manner, as required by law. The letter states that without such proof provided within 14 days, the deficiency claim will be considered null and void and any further collection activity or credit reporting on the claim will be a violation of federal law.

Uploaded by

tpeeples
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Repossession Dispute

Sometimes when your car is repossessed the original creditor sells the car for less than the amount
remaining on your loan. When this happens they can come after you for the balance, called the deficiency.
This letter is for the purpose of disputing collection activities on a deficiency from a motor vehicle
repossession. It may be used AFTER 2 years from the date of the repo sale, providing there has been no
filed claim for a judgment. It should not be used if you have been sued, or if the repossession is less than 2
years ago. The following site has all the state's repo laws listed: http://www.nfa.org/Site_search.html

Send a copy to EACH of the parties (collection agency and original creditor) Certified Return Receipt
Request.

Your Name
123 Your Street Address
Your City, ST 01234

Cheatem Collections
123 Fagetaboutit Ave
Chicago, IL

Date

Name of Original Creditor


Address of OC

Name of Original Seller (car dealer)


Addess of OS

Re: Acct # XXXX-XXXX-XXXX-XXXX (collection agency)


Re: Acct # XXXX-XXXX-XXXX-XXXX (original creditor)

Make of car:
Model:
VIN#

To Whom It May Concern:

I am writing in regard to the above referenced accounts and transactions.

This vehicle was repossessed by <Original Creditor> in the State of <Your State> on
or about, xx/xx/xxxx, and resold on or about xx/xx/xxxx.

Under the laws of the State of <State where car was repossessed> UCC § <Your
stat’s UCC code, you will need to look this up> and State RISA and MVISA statutes a
deficiency can not be claimed unless all of the required notices were properly and
timely given, and all of the allowable redemption and cure time limits were adhered
to.

Please provide copies of the legal notices and proof of the commercially reasonable
manner of the resale of the subject vehicle.

If no such proof is provided within 14 days from receipt of this notice, the alleged
claim of a deficiency will be considered null and void, and any continued collection
activities, or continued reporting of this invalid claim on my credit reports will be
considered a violation of the FDCPA and FCRA.

In addition, if you singularly or severally fail to comply with the above requests, I
reserve the right to seek damages against all parties, under all available State and
Federal statutes and UCC § 9 remedies .

Sincerely,

XXXX

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