Like the title says I have a balance for a car I financed through car max that got repoed last November. Today I got an email from finance basically saying they’d pursue legal action. The current balance due is a little over $14,000,(after selling the car and deducting the sell price).
This is what the email said, “Your account ending in XXXX9840 requires immediate action! CarMax Auto Finance has made several attempts to secure payment for the outstanding balance of $14,211.87. You have not made the required payments under your Contract, and we intend to bring legal action against you for the outstanding balance.
Before we refer your account to an attorney’s office, we are offering you the opportunity to pay your outstanding balance of $14,211.87. You can pay this amount in the one (1) lump sum or a maximum of twelve (12) installments. “
I thought if I ignored their calls they’d just send it to a collection agency I could dispute it or pay 1/3 of the balance on cause I genuinely don’t have the money for it after being let go from my job, which cause me to fall behind in the first place, and taking one with lower pay.
Today I received this email and I’m not sure what to do. The car was finance in Wisconsin so that’s the state they believe I live in for now but I currently live to New York City after moving a few months back to stay with relatives while I sort things out.
I guess what I’m asking is if anyone has been in this situation before or knows what to do if they have any advice? What are my options here? If i let it go to court would it be better in Wisconsin or NYC? I can’t afford to have my wages garnished but I also can’t commit to a payment plan right now as I barely have money to go food shopping and do laundry as is.
Location: car was originally finance in Wisconsin, I now live in NYC
Comments
> I can’t afford to have my wages garnished but I also can’t commit to a payment plan right now as I barely have money to go food shopping and do laundry as is.
Well, you don’t really have a choice in the matter. If you don’t agree to the payment plan they are going to sue you, get a judgement, and garnish your wages.