bankrupty question re: car repo

[kprowell]

What is the name of your state (only U.S. law)? OregonWhat is the name of your state (only U.S. law)?

If you have two vehicles financed with same bank but on TWO SEPARATE ACCOUNTS, and one is behind while the other is current, can they legally repo BOTH vehicles? They are threatening me.

[kprowell]

Originally Posted by kprowell

What is the name of your state (only U.S. law)? OregonWhat is the name of your state (only U.S. law)?

If you have two vehicles financed with same bank but on TWO SEPARATE ACCOUNTS, and one is behind while the other is current, can they legally repo BOTH vehicles? They are threatening me.

also, on the vehicle that they do repo, is Oregon a state where they can garnish wages for amount still owed after sale/auction of the repossessed vehicle?

[racer72]

Read your contracts and read the part about offsets. If the contract states that the bank has the right to offset any past due amounts to all debts, they can repossess both cars. Oregon law allows for wage garnishments.