filed bk 7 then financed a car and now don't have money for it
Date: Thu, 07/09/2009 - 06:35
hi
two years ago I filed bk 7 and one year after i purchased a car and they financed it with no problem. now, i don't have money to pay and they are coming to get the car and I owe them almost $10,000. What can it happen next?
I am not working, I have no money, and I can't file bk for several years. What will they do to me? :(
two years ago I filed bk 7 and one year after i purchased a car and they financed it with no problem. now, i don't have money to pay and they are coming to get the car and I owe them almost $10,000. What can it happen next?
I am not working, I have no money, and I can't file bk for several years. What will they do to me? :(
The vehicle will be sold at auction and you will be pursued for
The vehicle will be sold at auction and you will be pursued for the deficiency balance....the difference between how much the loan was and how much they sell the car for at auction. Plus repo expenses and fees like towing and storage.
Agree with what Soaplady said. You will be responsible for the
Agree with what Soaplady said. You will be responsible for the difference and they can sue you for it, then possible garnish your wages...once you have a job...if/when this happens, you can either work out a repayment plan on it or you can file Chapter 13 - which is still a repayment plan, but is based on what the court will determine.
Submitted by desperatelyseekingsanity on Thu, 07/09/2009 - 07:19
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