tag:blogger.com,1999:blog-34398479.post489332923905108660..comments2023-10-28T03:38:02.333-04:00Comments on Down RIver Drivel: 'Splain This, Lucy!"Jenihttp://www.blogger.com/profile/16425701332785470116noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-34398479.post-36249444070296582922010-06-04T22:43:03.331-04:002010-06-04T22:43:03.331-04:00If you have a car repossessed - as I have - then t...If you have a car repossessed - as I have - then the car is sold at auction by the bank to the highest bidder. If the amount they get for the car doesn't add up to the amount that you still owe on the loan they call that a deficiency balance and they then expect you to pay that to them even if you don't have the car anymore. Generally speaking, the amount that you end up still owing is what you would have paid in interest on the loan on the vehicle - which you no longer have I might add - but which the finance company thinks they are entitled to. <br /><br />The whole thing totally stinks as if one had the money to pay the deficiency balance, then one would have had the money to pay the loan and not have the vehicle repossessed in the first place. At least, if one were in my shoes that is!Lindahttps://www.blogger.com/profile/05698969349369789642noreply@blogger.comtag:blogger.com,1999:blog-34398479.post-70289864940059062942010-06-04T16:38:56.670-04:002010-06-04T16:38:56.670-04:00ABSOLUTELY ABSURD!!!!!!!!! Jeni, our government is...ABSOLUTELY ABSURD!!!!!!!!! Jeni, our government is out of control...And that's all I have to say 'bout that! Ridiculous!!! It would be humorous if it weren't SOOOOO TRAGIC!!!! Something needs to be done. Soon. Great post! Great questions! Bravo! ~Janine XOSniffles and Smileshttps://www.blogger.com/profile/10073156486641622612noreply@blogger.comtag:blogger.com,1999:blog-34398479.post-84346722259414439822010-06-04T14:11:17.286-04:002010-06-04T14:11:17.286-04:00Jeni, I could no more 'splain' the IRS tha...Jeni, I could no more 'splain' the IRS than I could 'splain' a plaid jacket to a blind man, but I'll hazard a guess as to why the law is that way. The thinking is probably that many people could say they were forced into selling because of a bad economy, then under-report the sale price of a home and thus owe less tax on the sale. No doubt a few have done so. Shame that honest people who are suffering are made to suffer more, though. But, that's the government for you. If they can find a way to screw 100 honest people while catching 1 dishonest one, they'll probably do it.Suldoghttps://www.blogger.com/profile/07778845367184916684noreply@blogger.comtag:blogger.com,1999:blog-34398479.post-45659858277969171822010-06-04T08:10:38.222-04:002010-06-04T08:10:38.222-04:00It is all a bit beyond me but some how some where ...It is all a bit beyond me but some how some where someone is making an awful lot of money out of other people's sad split ups.<br />It is terrible to have to hand over a property because you can't pay off a small amount on a mortgage. This is where common sense should come in. But it doesn't.<br />Maggie X<br /><br /><a href="http://granniemay.blogspot.com/" rel="nofollow">Nuts in May</a>Maggie Mayhttps://www.blogger.com/profile/06183886005936250976noreply@blogger.com