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My grand daughter financed a car through Ford Motor Financial. About a year into the loan, She began Interferon intravenous injections ( hair loss, nausea, etc ). This and other medications went on for about a year and a half. She was able to work some, but not steady. She contacted the finance company and explained her situation. They were cooperative, giving her a loan extension, and some deferred payments. This was all done by phone, no paper work. Yes she was late with some payments, but eventually was able to return to work. She continued making payments until finally a couple of months ago she made her final payment. She verified, again by phone, that this was her final payment. She expected to receive the title to the car, however, what she received was a repo man taking her car.He gave her a number to call, and was told that she owed over $3000 in fees, and that the account had been sold to one of these bottom feeder collection companies. Although they claimed that they
had attempted to contact her, she had not been contacted either by phone or mail that these charges had been assessed.
She explained that she didn't have $3000 cash, and tried to work out some kind of payment plan. They were beyond rude, belligerent, and insulting.They wanted $3000 or the car so they took the car. Totaling her payments, she had already paid over $20000 on a $12000 note.They, of course, told her that they would sell the car at auction, and sue her for the difference, plus a lot of other fees. Medically, she is supposed to avoid stress, and this totally stressed her out.
My advice to her was this. Worst case, they go to court and get a judgment against her. It is my understanding that in Texas, your wages can not be garnisheed, other than child support or government debt unless generated in another state where the law is different than Texas. There are no debtor's prisons, her credit rating is the least of her worries at this time, and she can use my truck for transportation until things turn better for her.Sometimes you just have to raise your middle finger, turn your back, and walk away.
HOW WRONG AM I ?
had attempted to contact her, she had not been contacted either by phone or mail that these charges had been assessed.
She explained that she didn't have $3000 cash, and tried to work out some kind of payment plan. They were beyond rude, belligerent, and insulting.They wanted $3000 or the car so they took the car. Totaling her payments, she had already paid over $20000 on a $12000 note.They, of course, told her that they would sell the car at auction, and sue her for the difference, plus a lot of other fees. Medically, she is supposed to avoid stress, and this totally stressed her out.
My advice to her was this. Worst case, they go to court and get a judgment against her. It is my understanding that in Texas, your wages can not be garnisheed, other than child support or government debt unless generated in another state where the law is different than Texas. There are no debtor's prisons, her credit rating is the least of her worries at this time, and she can use my truck for transportation until things turn better for her.Sometimes you just have to raise your middle finger, turn your back, and walk away.
HOW WRONG AM I ?