I secured a $10,000 loan from Quimper Credit Union and paid on it for over 1 year; about $3000. I broke my foot while in between jobs so had no insurance to help me and couldn't work. I let them repossess my trailer. It was in need a a few repairs but otherwise in very nice shape. I had just added a brand new refrigerator ($1700 installed), hideabead, recliner, microwave, beautiful oak interior, 31 foot 1993 Hitchiker with a tipout. They sold it for $800 and sent me a bill for $15,000 due immediately or will sue.
This trailer was a large 5th wheel trailer (far from only salvage material). Even a small 10 foot camper would have been worth $800. They are going to receive $! 8000 AND my 31 foot 5th wheel trailer for the original $10,000 loan. Are there any regulations on things like this. Shouldnt banks have to sell repossesions for a fair price or are they alloed to give their family a deal like an $800 5th wheel trailer. I have plenty of people willing to testify the liveability my trailer.
Jeff
Kalispell, Montana
U.S.A.
0 comments