Vanderbilt Mortgage
Voluntary repo after Oakwood bankruptcy, now Vanderbilt demands $46,000 deficiency

I bought an Oakwood home in 1998 finance through Oakwood Acceptance. My house was never set up correctly. One end of my house was never even closed up. I had holes in my roof. Floor damage. Water Leaks. Warped Cabinets. Etc...

After 5 years of dealing with this mess and not getting a response, I told them to come and get the house. They were trying to charge me $2000.00 for paying late. Even though I had not missed a payment. They told me to pay the $2000.00 upfront or they would come get my house.

So I wrote them a letter detailing all my problems and told them to come and get it. They called it a Voluntary Repo. They came and got it and I never heard another word from Oakwood. Except for the papers I would get every so often from the Bankruptcy courts. You see, Oakwood had filed Bankruptcy on $40.00 that they owed me, so I was one of their creditors.

When they came and got my house I was told that I lucked out because Oakwood was filing Bankruptcy and they would sell my house and file Bankruptcy on the deficiency balance. They apparently sold the house for $14,000.00 in December of leaving a deficiency balance of about $46,000.00. I know they filed Bankruptcy on the $40.00 they owed me, but I don't know for certain if they filed on the deficiency balance. I was for certain they did, because why else would Oakwood have not been coming after me for the last 3 years. The only reason I can think of is because you can't collect on something that you filed Bankruptcy on. (that is per an attorney)

Now 3 years later Vanderbilt Mortgage is sending me letters and calling me at work wanting this $46,000.00 and warning me that I live in a "wage garnishing state".

As far as I know, if Oakwood did indeed file Bankruptcy on the deficiency balance, then another company can't collect on it. I don't know if they are just harassing me and trying to get what they can get, or if I should really be worried. I can't file chapter 7 because I make way too much money.

Should I hire an attorney and go after them, or just sit around and see what they do? Anybody else had any similar problem? Also, they have to go to court to garnish my wages right? I live in Oklahoma.

Company: Vanderbilt Mortgage
Country: USA
State: Tennessee
City: Maryville
Address: 500 Alcoa Trail
Phone: 8009707520

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