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#1
03-12-2009, 09:54 AM
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Leased Vehicle RepossessionWhat is the name of your state (only U.S. law)? Ohio My husband and I were both laid off from our jobs. Our income was down to just 1/3 of what it had been. As a result, I was unable to pay the lease on my vehicle and within a few months is was repossessed. The car company is contacting me now to pay the deficiency and I am trying to explain to them that neither my husband or I have gone back to work FT (not a good time to be looking for a job) and we cannot afford to pay a 9k deficiency. If I had had that money, I would have made the lease payments in the first place. Regardless, I'm sure they will sue us. We have no savings, very little income...what will happen in court? |
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#2
03-12-2009, 10:28 AM
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| They will get a judgement and pursue any legal means to collect it. Judgements are good for a long time, so it will be there waiting when you have more money. They may be able to garnish your wages and drain your bank accounts, too. So try to make some kind of arrangement to avoid a suit.
__________________ Lawsuits are not about justice. They are about MONEY. If you don't want money, then you shouldn't be thinking about suing. And people post here because they are thinking about suing. Because they want money, no matter how much they don't want to admit that to themselves. -Auto insurance adjuster for 2 years - as of 6/15/09, I am FREE! |
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#3
03-12-2009, 10:39 AM
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Leased Vehicle Repossession - replyThank you for the response ecmst12 - Follow-up Do you think I should consider personal bancruptcy? I feel like this situation is going to snowball. |
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#4
03-12-2009, 10:44 AM
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__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic!  Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
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#5
03-12-2009, 10:48 AM
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| Nice response - thank you for your kind help - Goodbye |
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#6
03-12-2009, 11:51 AM
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__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic! Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
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