repossession

Discussion in 'Credit Talk' started by jenz, Nov 20, 2004.

  1. jenz

    jenz Well-Known Member

    in 2001, we voluntarily had our vehicle repossessed when we were denied on our disability coverage. that whole disaster is another story. we still ascertain that per our contract we were covered - they say no, it was single coverage and husband wasn't covered.

    anyhoo - got letter from attorney seeking deficiency judgment for $6600. amount of deficiency $5100. (vehicle was worth $7k, sold for $1600). they are trying to claim:
    $5100 deficiency
    $200 late charges
    $1300 interest

    Can they charge interest and late charges on a deficiency balance? And if so/not, can you direct me to that? i have searched all day, and can't find anything in either direction.

    btw - i'm in minnesota
     

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