Car loan default: Can my unemployment benefit be garnished?
Date: Sat, 12/05/2009 - 02:20
The lender can sue you for any deficiency left after they reposs
The lender can sue you for any deficiency left after they repossess the car. Depending on the amount, it may or may not be worth it to them.
As far as the unemployment benefits being garnished, they would only be able to do that after receiving a deficiency judgment from court. However, many states have garnishment exemptions for people receiving government assistance including unemployment benefits. The short answer is most likely not, but it depends on your state's law.
i could be wrong, take this with a grain of salt but i dont thi
i could be wrong, take this with a grain of salt but i dont think they can garnish unemployment benefits. They can sue you for the remaining balance, what i would do is check your local laws on garnishment and such some states are very debtor friendly like mine were they cannot garnish wages at all. goodluck
I just had a car repossesed. It sold at acution for $1,000 dolla
I just had a car repossesed. It sold at acution for $1,000 dollars. I still owed $14,000. I made the bank an offer of $1500 for the remaining balance. They accepted and said that they would report to the the credit bureaus that the car was "paid in full." My loan was with Wachovia Dealer Services. I was surprised at how easy they were to work with. Good Luck!