About 4 years ago, I had a motorcycle reposessed. I wasn't ever given a letter that the bike was going to be reposessed, nor was I given any opportunity to correct it before auction. I was so clueless about what was happening, I even filed a police report because I thought the bike was stolen. I finally found out that it was stolen when the creditor asked for an additional $700. The difference between the loan amount and what they collected at auction. The whole thing is still on my credit report, and I've not ever really known what to do about it. They didn't inform me they were reposessing it, they never gave me an option to rectify the situation, and they sold it at auction for less than fair market value. They've damaged my credit because of it, and claim I still owe them money. What would you do?
I would check my state's laws on repossession to see what the exact procedures are that a creditor must follow.
They must inform me. Problem is, this happened in Co and now I'm in Wa. Not sure how to go about suing for it. Nor if it is a good idea.
