Ashley
springfield,#2Consumer Comment
Wed, August 22, 2012
that you do owe this money. When a car is repossessed it is sold at an auto auction. The amount they sell it for is deducted from the total amount you own on the loan. Not just the principal, but the interest too. You still owe the bank that remaining balance. if you don't pay it, they will get a judgement on you. You say that it was several years ago this happened, and that you had moved. This is why you were served at an old address, its the last address they had on file. That doesn't make it any less legal. You had to have recieved notification at some point that you would owe money after the reposession.
Now what happens next is that you will be sued and get a judgement placed on you. That judgement will have interest attached to it so your balance will grow annually. Every year that you do not pay this off, the higher the amount owed will go. Your best bet would be to declare bankruptcy from the sound of your situation. With you on disability with child support, they ralistically can't go after your wages but this debt will never go away until you pay it or you get it discharged through bankruptcy.
As for the rest of the bad things in your life, aren't you stretching things a bit much to blame everything from your inability to get your teeth taken care of to your daughter going to college on a car repossession? You clearly have some other issues in your life, but they weren't caused by a car repossession.