Home     Law Advice     Insurance Advice     Community    
Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Consumer Bankruptcy
Reload this Page Repo nightmare

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 03-22-2000, 10:31 PM
KarenB
Guest
  
Posts: n/a
Post

I co-signed on a car loan with my boyfriend and the car got repossessed back in June. He said that the repo guy pretended to be a company rep. coming over to work out a payment plan, but when he got there, he repossessed the car. My boyfriend says that since the man pretended to be a company rep and then repossessed the car, we won't have to pay the balance of $12,000. Is this true and if it is not true, will my wages be garnished? Is there anything I can do to rectify this situation? My credit is spotless otherwise. Thanks
  #2  
Old 03-26-2000, 10:45 PM
Senior Member
  
Join Date: Dec 1999
Location: Several States
Posts: 4,500
Post
It matters not that the repo man lied -- if repo was appropriate, that's that.

All that means is that the value after repo and costs of recovery will be deducted from the loan balance, interest and penalties. If there is still money owning, you owe it -- that's what happens when you co-sign.

You can get the facts and offer to pay it off. And check the numbers carefully -- you'll be surprised how much you owe!

------------------
This is intended as general information only and NOT LEGAL ADVICE. You are not my client, and I have no obligation of any kind to you. To retain a lawyer, go to [url="http://AttorneyPages.com"]http://AttorneyPages.com[/url]
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 05:01 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.