Accounts Receivable Management Inc. Repeated phone calls Thorofare, New Jersey

Yes they can and will take nessecary steps to collect the amount owed. Jim is 100% correct, you are on the hook for the balance of that car once it is sold at auction. In fact, I know they sent you a letter explaining that your car was sold at auction. In addition they would have shown an itemized listing of charges plus the balance you owe. It is a legitimate debt that will hold up in court vice what anyone has told you. I suggest you work out a payment plan with them.

Giving up the car in a repo DOES NOT make the balance of the contract go away. If they sold it at auction, you are on the hook for the contract amount minus whatever they got for the car. If they didn't sell it at auction, you are on the hook for the reminder of the payments. If you ignore this, they may sue you, obtain judgement and garnish your wages, if allowed in your state and/or seize bank accounts. The collection agency is either acting on behalf of them or they bought the debt from them. Whoever told you they cannot collect doesn't know what they are talking about. What can you do now? You can start living responsibly RIGHT NOW and make arrangements to pay them and stick to that plan. Or you can decide to live as an irresponsible, welfare type deadbeat. That choice is 100% yours!