Ever lost a car or truck to repossession? Was the vehicle re-sold to your “buy here, pay here” dealer after it was repossessed? If so, your legal rights may have been violated. The attorneys of Craig Henry are committed to protecting the rights of Kentuckians whose vehicles have been repossessed.
Kentucky law provides an individual the right to “redeem” her or his motor vehicle before it is sold by paying the balance due, plus certain costs. A secured party, typically the dealership or finance company, is required to tell you how to “redeem” by letter, and to tell you when the sale will happen. If you do not redeem within the allotted time, the secured party must sell the vehicle in a “commercially reasonable” manner, generally through public auction or private sale. After sale or lease, the secured party must send a second letter explaining the results of the sale, and whether there was a surplus (you are owed extra money from the sale) or a deficiency (that you may still owe money). A secured party that does not send both letters and that does not follow the “commercially reasonable” rules may be barred from seeking additional money from you, and likely owes you damages.
Craig Henry stands up for victims of wrongful repossession and for those whose rights have been violated after repossession. If your vehicle has been repossessed, and you want to discuss your legal options, call us to see if we can help.