Getting sued for repoed car...what to do now?

  • Thread starter Thread starter prgirlinsc
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prgirlinsc

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I got a car financed through Capital One. The car was $23,000 and made two years worth of payments at 500.00 before losing my job. I was not able to make full payments, but called the company to ask if they could work with me. I got nowhere with them. They repoed the car in January of 2008 and sold it at an auction for 4500.00. They are suing me now for $18,000 which they say is what I still owe on the car. How is that even possible with two years of car payments and then being sold at an auction? Anyone have any clue as to what I do next? I am not disputing that I owe them money...just don't think I owe them that much and am willing to pay what I owe. Will they work with me on a payment plan or will in case of a judgment will they expect the whole amount? Any help will be greatly appreciated.
 
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