Santander Triad Vehicle was a total loss, remaining balance should have been charged off but turned into debt collector Fort Worth, Texas

29th of Dec, 2011 by User977361

I purchased a Suzuki Forenza in 2007 with the financing of Triad Financial. In the spring of 2009, I started receiving statements from Santander as they bought the loan from Triad Financial. In December of 2009, I was involved in an auto accident, in which I was not at fault. I filed a police report, which was forwarded to my insurance company. The insurance adjuster for my company declared the vehicle a total loss and paid $6,143 directly to Santander, leaving a balance of over eight thousand dollars. Since I didn't have GAP insurance and couldn't afford to pay the balance, Santander told me the balance would be charged off. I just received a letter from a debt collecting agency, which lists Triad and states I owe the debt collecting agency the remaining balance. I believe they paid a few cents on the dollar to buy the loan, so I sent a certified letter asking them to not pursue the matter. I also asked them not to contact friends of mine, family members, my place of employment or any othre associations I have regarding this matter. I also asked them to not contact me in any way unless they are informing me they are not pursuing the matter. I cannot afford to pay over $8,000 for a vehicle that is a total loss. Should I seek legal counsel?

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