Q: I have a vehicle and got behind on payments, I looked at my credit report and all 3 credit reports show that the ford credit charged off the debt for the full amount owed, and now they sent me a summons, for the same amount they charged off, is this legale?
It likely is, though once they sell the car they can only collect the deficiency balance (plus court costs and attorney fees) if they prevail in the suit. The amount they credit report should be the amount owing at the time of default, and if they credit report a different amount it may be a violation of your rights under the Fair Credit Reporting Act.
cindy 2011-10-14 18:57:25There may be instances where discussing your situation over a public forum could potentially compromise your interests. On these occasions we will contact you directly via email in order to answer your inquiry in a confidential manner.