I Made a Payment And The Bank Took My Car and Sold It. – Mary

“Dear Steve,

I hope you can help. About 2 yrs. ago my car was repossed by the bank i had made a 1/2 payment the teller said it was ok . the next day my car was gone? They auctioned off my car and sent me a huge bill ? the car was half paid off.I obtained a attorney in hopes of a settlement which they turned down. I have been making payments for a yr and getting nowhere. they have charged me their attorney fees, interest at 586.00 filing fees etc. my attorney acts like he is working more for the bank than me? What can i do to get out of this mess??it was not fair on the banks part, they never called me or sent me any mail so i could have taken care of this before the repo. whits end..thank you.

how can i get out of this i am paying 50.00 a month and getting nowhere should the bal be frozen . help


Dear Mary,

The issue appears to be you were in default on your car note. It appears you brought up half the deficiency but failed to bring the note current. If that is the case the car may have been repossessed under the previous default notice.

If they never notified you that you were delinquent on your payments then that is a different matter. A lender is not required to give you notice of a specific time they intend to repossess your vehicle.

If a vehicle is repossessed it will be sold at auction and you will be responsible for the difference between the auction sales price and the remaining loan amount plus fees.

Can you tell me more about the situation? Were you behind and did they mail you any notice you were behind or a monthly statement showing you were behind?

Post your answer in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

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8 thoughts on “I Made a Payment And The Bank Took My Car and Sold It. – Mary”

  1. I responded yo your other comment already. You can file bankruptcy but the first step is to find a local bankruptcy attorney and go talk to them. They will then be able to give you specific advice based on your situation and the state you live in.


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