vol. repo. in NC

[jdobson1979]

What is the name of your state? North Carolina My wife and I bought a truck 2 years ago. We just had a baby 3 months ago with all the bills and everything els we can not afford the truck anymore. Both of our names are on it, and we also have another car her and her mom are on. We are going to give the car back can not afford it anymore. We have not done it yet they said they can garnish our check 25-35% after auction. Can they put us on payment plan before garnishment?

[Ladynred]

We have not done it yet they said they can garnish our check 25-35% after auction.

That's a LIE ! Wages can NOT be garnished in NC !! They either have NO CLUE what they're talking about or they are trying to scare you.

If you return the truck it WILL be listed as a repo on your credit reports. The truck will be sold at auction, sell for a fraction of what you still owe on it and then they'll come after you for the deficiency. Since the truck is relatively new, that's likely to be a large sum and you could be sued. No one can do ANYTHING at all w/o first winning a lawsuit against you.

You can negotiate with them on a payment plan after they sell it, yes.

Is there ANY chance you can sell the truck yourself rather than let it go back ?