Towing Issues: Accident tow and impound, collections agency, tow company

Question
My son's car was involved in an accident and towed.  Since the vehicle had no value, we left with tow company.  Both of our names was on the title and two years later we get letter from collections agency for $1,400 but they are willing to accept $700.  I know they can sell car to satisfy storage and tow cost, but we never received any information on the Lien sale or cost of storage and tow.

My questions are:
1) Are we entitled to a full documentation & accounting of the tow & storage cost along with the lein sale?
2) If we are unable to pay, will this have any impact on his credit rating?
3) Other then pay the amount, what other options/rights do we have?

Thanks
Tim


Answer
Most towing companies will disclose the manner of processing and auctioning the vehicle. It would be easier for them to prove the information now than going to court. At this point, everything has be forwarded to a collection agency so it's in their hands now, not the tow company. Most creditors/collections agencies will forward the negative information to the credit bureaus. Other than hiring a attorney to review the processing of the vehicle to find anything the towing company may have violated there is not much more that can be done. The attorney, courts and loss of time on your part will probably exceed the $700 settlement from the collection agency.