Vehicle Lawsuit

[Lestergoins]

What is the name of your state? Texas. Currently, I live in texas but purchased a vehicle in Virginia prior to moving to Texas. In may 2002 I contacted the bank to return the vehicle because I could no longer make the payments. Now the company turned my file over to a lawyer who plans to file a lawsuit against me. I can not make the payments they want and have been enrolled in Consumer Credit Counseling (CCCS) since may 2002. What are my legal options?

 

[racer72]

Your legal option is that you are still legally obligated to pay the difference from what you owed and what the bank sold the vehicle for. If you owed $10,000, the bank sold the vehicle for $3000, you still owe $7000 on the loan. And because you are now in default, they have the legal right to sue you which can result in a judgment against you. The creditor could probably care less about CCCS and probably will not deal with them.