Owed $39,000 on a 5th wheel. Found a buyer at $28,000 ... Bank of the West said not interested so we voluntarily gave up the trailer. Bank of the west then wholesaled it for $17,000 - this was nearly 2 years ago. We got no calls, no letters, nothing. Finally this month they turned it over to a collections company asking for the balance of $24,000 which includes interest and a trailer pick-up fee of $1200. We offered 10%, they said 80% to settle or they will take us to court.
If this goes to court, how do they determine a fair amount owed since we offered 28K and they denied it? What should we expect?
JB
If this goes to court, how do they determine a fair amount owed since we offered 28K and they denied it? What should we expect?
JB