bank sold car on ebay!!!!!

[help me 07]

yeah i got letter saying they were going to sell it at a "private"
auction...well my friend was on ebay and foung my car...wtf
i was like damn thats a nice car...
well it went for 20,000 but the bank took 16 ,000 off the balance?

the remaining total balance was like 36,877.so 36,000-20,000
i should have to pay back 16,000 right,

r they trying to pull something over me?


my car on ebay..i mean the banks..who ever bought this got a hell of a deal

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=6324&viewitem=&item=220192668327

[HAP]

Have you filed for bankruptcy? If so, I don't see how they can make you pay the difference back.

[aachudneymiles]

yeah i got letter saying they were going to sell it at a "private"
auction...well my friend was on ebay and foung my car...wtf
i was like damn thats a nice car...
well it went for 20,000 but the bank took 16 ,000 off the balance?

the remaining total balance was like 36,877.so 36,000-20,000
i should have to pay back 16,000 right,

r they trying to pull something over me?


my car on ebay..i mean the banks..who ever bought this got a hell of a deal

http://cgi.ebay.com/ebaymotors/ws/eB...m=220192668327

If you filed bk .. The diffence would be unsecured and included in bk ...If you didnt file bk you would be responsible for late fees repo fees etc-- and what ever the left over of the balance from the sale on ebay. If the car was repo'd they can sale it whereever they please, never knew they would put it on e bay though. The seller was threeriversfederalcreditunion so there you go. A credit union..

[no_it_all]

You had a 36,000 balance on a Miata???? what is up with that????????? Please read your post and rewrite it. It currently makes no sense...

[HHM]

The $4000 is probably being "accounted" as cost of sale, but that seems high.

[TomBrady]

I dont have anything helpful to say. But man that is some funny sh!t. I am sorry for your lose though

[BKOnce]

Well, why that car was so expensive buy?

[Lindsay]

It may have included a balance from a previous car that was traded in. I heard that some cars are financed heavily because they roll the upside down balance of the previous car in the new loan!

[aachudneymiles]

you can always call and ask whats up with the 4k

[MajorMike]

yep, that's what happened to us. We rolled in over 10K from previous car because we took a huge loss driving it off the lot. We paid sticker because it was the first year introduced.

[help me 07]

ok ok yes i traded in a car , balance rolled over i havent file for bk yet is this a problem?
i hope it isnt, i will be sad...................

[keepmine]

It's no problem. As someone mentioned, the deficiency balance is unsecured debt and may be discharged in bk.

[MajorMike]

Ok, Why is it that going in, our car was $28,500 and in our paperwork from the trustee,it says we have to pay 6% interest and it's included in the plan when the car is only worth $18K? Why do we have to pay the entire $28,500??

[help me 07]

holy crap now im nervous it MAY get discharge... i havent gotten a letter saying they sold the car yet...all i got was its going to be sold at a "private" auction..
man i hope i dont get sued over all the debt im only 20, man this sucks

[lrprn]

Ok, Why is it that going in, our car was $28,500 and in our paperwork from the trustee,it says we have to pay 6% interest and it's included in the plan when the car is only worth $18K? Why do we have to pay the entire $28,500??

Cars purchased before 910 days of filing get "crammed down" to their real value. Cars purchased after 910 days don't. I assume you owe full value because you purchased your car within 910 days of filing.

And what you owe on the car includes the interest you would have paid. Bk case law decisions decided that over a year ago for Ch 13 cases filed under the current law.