Hey what’s up everybody stephen a williams president and founder of in this video we’re going to talk about a repossession of a vehicle from an individual uh that we’re doing the response uh summons response for now this is with the original creditor and if you’ve been watching my videos you know that when we talk about uh doing a response

To the original creditor it’s really going to only be when you have a dispute with the original creditor and so i’m going to talk to you about why we took this one on and what in the way that we believe uh we can help this individual uh really to get a good settlement on this and i’ll go into more detail about it before i get into that i want to thank everyone

Who watches the video i really appreciate it i really appreciate when you like the video it helps us reach more people that need help with their credit or debt or or some of the times people just need to be able to hear someone that seems like that you know that that that’s answering their questions you know that that’s uh in those in the same fight that they’re

In and then uh also i would like to thank everybody for just really supporting the channel i really do appreciate it so now let’s uh get into this here this uh individual had a truck it was a commercial vehicle and reading through the summons one of the things that caught my attention because this is from the original creditor and this also uh can show you

Why it if you do it the right way you can win your lawsuit against a third-party debt collector because in this summons here they don’t hide anything there’s no blacked out information there’s no redacted information it has account numbers has the vin numbers has all of his information has uh contract information all of that stuff but here’s the problem that

We found after doing a consultation with them is that he accidentally this is and then the reason why i was we’ll say accidentally is because someone that he knew knew about the truck and they were looking to purchase a truck and they uh called him to say hey is there anything wrong with it which is logical like they wasn’t calling to say you know something

Against the uh uh car uh the car sales company this individual was just knew that that person had the truck before and now they were interested in getting it and they just wanted to say hey is there any problems with it because these vehicles uh it says here when he got it originally was 127 000 so after reviewing everything and with the discussion that he had

With that individual telling them that the vehicle was you know in very good shape he said well i’m i ended up buying the vehicle and it was for over 90 000 so now here’s the problem with that when you have a repo this is this is this is standard uh uh this is the standard uh uh what do you call it the you know this is what every uh finance company is gonna do

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Standard protocol they’re going to repo the vehicle they might throw some fees on for repo in the vehicle for the repo man and then they’re going to take that vehicle to auction they’re going to sell it for whatever they’re going to get and then they’re going to come after you for the deficiency balance which is the difference between what you owed and what they

Sold a vehicle for at auction something that caught our attention with this one after doing our uh consultation is um you know there was already an issue with the amount that he believes that the vehicle was sold for and so i started backing backtracking saying okay well where is the auction statement was it sold at auction for that amount and he said no it

Wasn’t sold at an auction and i never got an auction statement so what happened was the the auto sales place took the vehicle back which a lot of them do a lot of people don’t notice that there are dealers that will take the vehicle back in and they will resell the vehicle the problem that we see with this is that they took the vehicle back it was not sold at

Auction they’re coming after him for a deficiency but when they resold the vehicle which is his right to when when they repo the vehicle they have to like cancel out the whole contract and part of doing that is selling that vehicle at auction because that all ties are done that contract is ended it’s charged off this is the deficiency balance that they choose

To go after the individual for it they cannot sell the vehicle at auction from for more than what you owed or they could sell it for more than what you owed and try to come after you for the money because they’re like the auction paid it you know whoever bought it at auction paid it you didn’t pay it so they can’t like come after you for the balance that you owed

On the vehicle no they can’t do that and what we’re gonna be writing up in this summons response is we believe that uh and they’re coming after him for a little over sixty thousand dollars we are gonna write a response and we’re gonna state his side saying that he believes that the vehicle was sold by the dealer it was not sent to an auction it was sold by

The dealer for ninety thousand or thousand dollars or more which would reduce the amount that he would actually owe in the deficiency and he’s willing to pay that amount he just wants to have this you know have all of this be uh above table not something where they’re just trying to get over on them where they’re going to repo possess the vehicle he originally

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Paid 127 000 they’re saying that there’s uh a defense they’re actually saying that there’s a deficiency balance of forty one thousand dollars but if you add what he had paid into the vehicle and what they claim was still owed he’s thinking that there might be somewhere around ten thousand dollars is what would be owed uh after the deficiency and then that he

Would be willing to either pay that or do a settlement on that so be very careful when especially right now use vehicles and especially these uh commercial vehicles because they can sell even with high miles as long as they’re good long as the engine is good the body is good frame is good these vehicles can almost sell nearly for what they sold for new so be very

Careful your rights if a vehicle is repossessed you know you give it to them either it’s repossessed uh where you give it back or they come and take the vehicle it doesn’t matter they’re gonna sell it at auction you have a right to get that auction statement to see what it sold for and then from there you you can choose to do to offer a settlement or you could wait

It out and see what they’re gonna do on that if the dealer takes the vehicle and sells the vehicle and they don’t send it to auction because they know if they put it back on the lot they can arrange financing for another person so they’re gonna get money on the financing for bringing it to whichever finance company and they’re going to make money on what what they

Put on top of the vehicle and if we just go over the numbers that they’re stating here they said that the defendant owed uh around forty one thousand dollars if it sold for ninety thousand dollars so you’re telling me that on top of what he had already paid them for what deficiency they claimed he had and then they sold the vehicle for 90 000 we’re talking about

Another a difference of almost 50 000 in that transaction that went to them and if it’s charged off if the amount that they have is charged and written off and if the dealer is going to take that loss in a way they’re going to be getting paid twice they’re going to be getting paid from the charge all right off on there for on their taxes that write down and then

They’re going to be getting uh getting paid for arranging new financing for another individual so i’m going to submit this i’m when we get the end result on this we will make an update video on this uh because we’re this is uh you know this is a strange one i’ve seen this happen with where they sold it at auction but i have not seen this happen where the dealer

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Was actually coming after the individual for the deficiency especially when they’re able to to take those vehicles back and put them right back out on the market and sell them all right uh just wanted to get that information over to you uh this is everyday stuff that we go through here at if you need help with your credit please visit us

At watch the video what makes us different where you can see my eight-point validation process and my two-phase settlement process if you need your credit portion scores please go to the website you’re to number three everything starts there that’s where credit repair starts that’s where getting out of debt starts that’s where

Uh your whole financial um history is sitting there even though some people don’t agree with it but that’s where everything starts if you’re going to improve your finances you got to know where you’re starting in if you have debt collectors coming after you grab my three pack of letters statute limitations letter ceasing assist collection activities letter and um

Debt validation letter i do ask for a donation on them uh it’s worth it i just had an individual that asked my opinion on them filling out the form and they did a very good job if you could follow instructions you’re going to be able to utilize those and i’m pretty sure that individual is going to get that debt uh where they’re just not going to come after them

If you have debt collectors trying to sue you in court third party debt collectors uh we can review your documents and let you know if we’re able to help you uh even if it’s an original creditor we will still do the review and and just give you some options on what we would do if we were in that situation uh there’s links below this video for everything that i

Mentioned also a membership program if you uh don’t want to hire us directly but you want to get all the information all the documents to do stuff yourself and you will have live support you know other membership programs don’t do that i’m able to do that because i have full-time workers that work for me so i’m able to do that for you so if you decide to get the

Membership program get it and then if you need help with something we’ll you know you can drop us an email or give us a quick call and we will answer you as long as you’re an active member of the membership program all right make sure you like the video make sure you subscribe to the channel post your questions and comments this is stephen a williams president and

Founder of

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