@Birdie1 wrote:I guess they did sell the vehicle I forgot, i'm not complaining but they didn't make me responsible for the rest of the money
Well, amazingly there was nothing left somehow (insert sarcasm emoji).
Ally was able to sell the vehicle for the exact amount of money needed to cover the balance plus the reposession and sale expenses.
You are in the clear for the debt. Their creative remarketing department found a way to show a deficiency of $0 while losing $7,772.89 which means I beleive that they sold the car for $1,175 about as far as much as I can pick your old car up and throw it at them.
I'm guessing they DID NOT send you a 2022 1099-C as well?
That would drive the point that Ally probably made the entire balance on the sale.
@Birdie1 wrote:The car was absolute garbage when they took it. It wasn't driveable and needed timing chains and was full of mold, they def did not get 8000 for it
Maybe.. I joke that parted out cars are worth more than the car.
I send junk to the auction every week. Yours went at EXACTLY the height of the wholeale market (January 2022). I sent rusty sleds there that caught thousand more than I would ever pay me for.
Unless that beast had 500,000 miles... they got more.
No bill of sale was provided. Or you'd get a 1099-C cancelation of debt which is required by the IRS to be sent, or they are in violation.
Either way, your only hurdle now is the I-8 on your bureaus which will age out.
