Repossession

[hearth]

What is the name of your state? Tennessee
Co-signed for daughter, car was turned over, bank sold car, bank wants me to pay balance or will garnish my wages.
Car was bought in the state of Florida and turned over in the state of Florida. I do not mind paying, but bank wants all of it at once, not rich, work hard for living. Can bank garnish my wages with me residing in state of Tennessee and all tranactions took place in state of Florida??

 

[Ladynred]

In order for them to garnish your wages for a judgment granted in FL, it would have to be domesticated to TN, otherwise they can't enforce it. Do you have any idea if this was done ? Is there a judgment in FL, or are they just making threats ? In order to garnish they have to sue you first, win, then they get the judgment and your wages can be garnished.

In TN, we have the option of asking to pay a judgment in installments to avoid wage garnishment. The judge decides what your payment will be based on your income and expenses.

 

[hearth]

Nothing has been done yet, was just contacted on the 11th for the first time, do not return their call till the 18th.
I just do not want my wages garnished, like I said I am willing to pay in monthly installments, but they will not accept monthly payments, either all at one time, or a big down payment, then payments I can not afford, after I have been turned down for two loans.

 

[Ladynred]

If this is just the beginning of the calls from a collection agency, their demands for full payment and telling you they won't accept payments a load of baloney. Their threats to garnish are ILLEGAL under the FDCPA. They cannot threaten legal action that they do not intend to or cannot take. Read the FDCPA, learn your rights.

Don't talk to them on the phone, its a waste of your time and energy. If you can make payments, send them a payment plan that you can afford, Certified, RRR only. Keep all copies and receipts, you want to keep a paper trail. They'll most likely reject your offer, but make sure you demand they answer you in writing only, phone calls won't do. Don't let them bully you, stick to your guns. IF they manage to actually sue, you'll have proof in writing that you were trying to make an effort to pay, that will be in your favor.

 

[JETX]

Ladynred: Slight correction in your statements. The poster has said the contact was by the bank. If correct, the FDCPA does not apply to the original creditor.

As such, they can pretty much make any claim that they want....

Otherwise, Ladynred is correct. At this point (without a judgment), the creditor can only make claims for payment. They can't garnish your wages until a judgment is rendered. The fact that they are in one state and you in another has little value... they can simply domesticate the judgment to your state.

 

[hearth]

Thank you for the sound advice, I will seek an attorney in my area. I am grateful for your help.

 

[JETX]

Curious.... why are you going to 'seek an attorney'?? At this point, you have no legal challenges or issues.... until (if) the creditor notifies you of the filing of a lawsuit.

 

[Ladynred]

Oops.. got carried away I guess.. the 'bank' thing slid right by me.. LOL.

 

[hearth]

I am not going to seek an attorney yet, I am going to do what ladynred suggested about the paper trail, but if things get out of control, then I will seek an attorney.
I have tried in past to pay this thing off before they picked it up, but everyone kept lying to me and everytime I insisted it be in writing, it was always different than what we had agreed upon over the phone, so I would not sign anything.
I really just want to start paying it off, cause I did co-sign and it is my place to finish it up!
Thank you all again