Car repossessed and dealing with collection agency multiple questions to be answered?

This is my situation I co-signed on a car for my daughter in 2007. She lapsed on payments and I could not afford to make the payments. She called the creditor and made arrangements to pay at later date and extended the contract, this happened 2 or 3 times and she then lost her job due to an illness and we could no longer make payment or come up with 3 months worth of payments all at once to keep the car. We let the car be repossessed on 12-26-2008. On 1-10-09 I received a certified letter about "notice of repossession, redemption rights and deficiency balance obligation under state law" from them. The car had not been sold yet. On 1-29-09 the creditor charged off the account and it shows on my credit report the date and the amount but the amount is before the car was sold. I am working on locating all paperwork as some is with my daughter but the date of sale was like 2 or 3 months later . I received a letter on 4-03-09 from the same banks asset recovery dept. what the remaining balance was and payment options. I agreed over the phone when they called my cell phone to make monthly payments and we did on time every month for some time. Then another collection service company calls me and tells me its been handed to them and that if I can pay x am out of dollars up front plus monthly payments they wont charge me interest. We could not do that as we did not have the funds. But we agreed to and amount again over the phone to pay each month and continued until may of 2012 and we received a statement each month what the balance was and it was going down. Then it goes back to the 1st collection agency, which is in house and they tell me they have no record that we owe what the last company said they said we did in fact after making all these payments, still owe more then we did because the interest has been racking up because even though we were making payments to the other company and it showed the balance on each statement with them {ca2} it was not enough to cover the interest each month. So now CA1 is back in the picture and we again make payment arrangements over the phone and for 6 months all is good other then the amount is not going down much even though we've upped our payments also their statement says I am to pay a different amount each month then what was agreed to over the phone. Here's the deal at current It was set up on awd with them each month from my account last month 12-12-2012 no money was taken out of my account so I called them and the reason is I don't want them claiming no payment was made on error of my fault and be charged extra bs for their fault. So I spoke with a lady and she said due to some banking issues we can no longer set up 6 month deals and you could let us take money from account or mail it. I did not receive a notice about this and am wondering were they going to contact me for payment or is my loan about to be shipped to another company. I did the auto pay which cost me $5 so i would not be considered late in anyway. I spoke with her about the difference in amount agreed upon is different then what was agreed and she said she saw the discrepancy and will fix it. I spoke with her about the last company balance being different then theirs and she said fax it to her she would have her super look at it. She did tell me that my next payment is due by a certain date so I assume it will stay with this company for now. Ok I know I have made some mistakes in dealing with this and am not knowledged in how to deal with collection agencies and now know phone calls are probably not good. I should add that none of the collection agencies show up on my credit report as payments made or amount owed. I am seriously trying to educate myself more now because I figured if I am at least paying them something each month things are fine but now realize the way it's going this debt will never get paid off because we simply can't pay more or a settlement amount because we just don't have the funds and can't get them. Also daughter is repaying this debt with me. I have read some things regarding my rights and such but seriously reading that stuff is hard to understand somewhat and stressful that's why I am here. Question When car was purchased, warranties and theft protection ect , were added to loan amount but after repo shouldn't they be removed from amount owed. Can I ask for where all my payments are going like an amortization letter or something and how to go about asking for it. Should I dispute the amount on my credit report I don't want to make things worse and not sure which step to do first. I am hoping for some respectful responses and knowledge not a lecture on this because I know this is my debt and am learning my faults and trust me I am paying dearly for this. Thank You

Asked By: carla g - 1/8/2013
Best Answer - Chosen by Asker
What they are doing is giving you the run around. I suggest you contact a collection attorney and let them deal with it. I also suggest you notify your bank that you do not want anymore funds taking out from the bank or whatever agency you are dealing with.
Answered By: Stan - 1/8/2013
Additional Answers (0)
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