Car Repossesion

[aga22]

I would like to get some advice on car repossession. I am in a financial crisis right now, I have credit card debt and I own $10,000 on a car that I can’t afford any more. I have tried selling it but the car isn’t worth this price, it has $116,000 miles and it’s 7 yrs old. I was thinking of car repossession but just wanted to clarify how it works. If I do repossession, after the car is sold at auction, will they garnish my wages if I don’t pay the difference? What would be another option to handle this?
I would appreciate any advice.
Thanks,

 

[ecmst12]

You will NOT be better off after the car is reposessed.

 

[Antigone*]

You will NOT be better off after the car is reposessed.

I agree with Ecmst. You will be without a vehicle and still have a sizeable bill left to pay.

Since you didn't tell us your state, that is about the only thing we can tell you.