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Paying car off need advice

asm0deus

asm0deus

Golden Member
I got a 2001 Camry on loan from my former employer for $6750, and later the company paid for a repair that cost $1100. So $7900 total. I had been paying $200 per paycheck to own the car which roughly worked out to $400 per month. Fast forward a year and a half. They told me two weeks ago my remaining balance was $3310. I quit a week ago (this guy was my best friend we just couldnt work together) and they gave me a $0 paycheck taking out $400 (twice the usual payment) for the car. So I minused the 400 and that makes it $2910. But now they are saying that I owe $3448. I did tell them that I would pay interest, they picked 18% to screw me over and it seems like they are adding up the interest on the remaining $2910 to get $3448. So ... should I just pay it off and be done with them forever. Or should I get a lawyer, put future payments in escrow and see if what they did was legal. This guy is sheisty. Sheistiest guy i've ever met. I've seen him screw over many of our mutual friends (hence my quitting). I've learned my lesson and know how to spot people like him but I don't know how illegal they are getting. I didnt think they could take whatever they want out of a paycheck without notification etc. Any help is greatly appreciated!

Cliffs:
Got car loan from employer
Quit job
They are trying to screw me over
Should I try to get legal justice or just pay it all off to be done with them.
 
I've asked for a copy of the contract, hopefully I will get that eventually. I know they were kind of not-so-diligent with the book keeping. The title is in the company's name.
 
Originally posted by: JS80
What would happen if you don't pay anything?
Click to expand...

Good question, They have the title so they'd probably try to repossess it. I imagine they'd sell it and keep my money because they're dirtbags.
 
Sorry to say the deck is stacked against you. You don't even have a copy of the contract, so if they choose not to give you a copy, you would have to go to court just to get THAT, and then decide if it's worth pursuing. Without knowing what the contract says, I don't see how you can even begin to fight.

What's the car worth?

 
yah im probably screwed. i got plenty of money to pay it off so my best bet may be to have them sign something saying that if I pay that amount then they will transfer the title and we'll be done. The private party value is $5k - $5.5k.
 
All dependson the contract. if it doesn't state interest then they can't charge you any. Don't you have your own copy of the contract?
 
UPDATE:

It turns out that the company has altered my payment record. I have a paystub from last september that says I had paid 2300 total towards the car. My last paycheck says I have 2100 total paid. I'm going to have to get legal help obviously. But it looks like they have to provide a copy of the contract to validate the debt. Either way future car payments are going in escrow and im looking for cheap legal counsel. I just sent them a letter requesting numerous docs that they won't be willing to provide (they are falsifying docs, they dont want me to get any more proof of that) so I'll probably have to keep the car in the garage once the payments are in the late zone. any ideas/advice is appreciated.
 
Just pay it. If you can't afford to "just pay it," you should be able to get a secured loan on a 2001 Camry from a bank or credit union.

Oh, and be sure to announce this guy's name if he ever runs for any office so I don't accidentally vote for him. It's people just like this who are wrecking America, ruining all the progress we have made in less than 300 years, making us a laughingstock. ("Greed is Good???" What ever happened to "The love of money is the root of all evil?")


EDIT: Just read the rest (your update, that is). Fvck 'em, take them to court, get it settled, and don't give them a penny over the original $2,910.
 
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