1st - Decide if you should dispute this item.
To determine the amount in dispute you will need (1) your Form 433-A, (2) the AET (Asset/Equity Table) Worksheet sent to you with the rejection letter.
Follow these steps
- Identify the amount you used for asset value and the loan value of each vehicle on page 3 of your Form 433-A.
- Identify the value of the vehicle and the encumbrance (amount owed) identified on the AET Worksheet for each vehicle.
- Compare these amounts: If the net amount from the AET worksheet for any vehicle is GREATER than the amount from the Form 433-A, then you may have a disputed item and may consider filing a request for an appeal.
Compute the value of your vehicle
- Determine the Fair Market Value (FMV) by consulting a trade association guide, advertisements from local dealers, classified ads and authoritative web sites offering new and used car appraisals.
- Determine the quick sale value by reducing the FMV value by 20%. This is the amount you can sell the vehicle for today.
- On your most recent loan statement(s), compare the amount owed to the loan amount identified on the AET worksheet.
| ||2nd - Do you need help in identifying the documents supporting your item(s) in dispute? |
3rd - Do you want assistance in identifying other disagreed items?
For telephone assistance or more information on "Preparing a Request for Appeal" go back to the beginning.