S
SSchultz579
Guest
What is the name of your state? New Jersey
state - new jersey.
newly (about 1 month ago) purchased a car (financed with a finance company) and I absolutely can't afford the payments and I want to get out of the agreement - 1) can I voluntarily offer the car back to the finance company or dealership (best case) OR 2) if I have it repo'd and say for arguement sake its worth $15,000 and I financed the purchase price, taxes and other fees equaling $19,000 (which is why I am in this hole)- am I obligated to repay the balance remaining of $4,000?? I know the consequences are 1) the repo listed on my credit report and if their is still a balance owed wouldnt they just "charge off" the balance and move on OR 2) does the finance company come after me for that $4,000?? And what steps do they (if any) take to get the $4,000? (court/ sue/ garnish wages). Please advise and thank you for your help!! time is of the essense - I would like to act on this - thanks again!!
state - new jersey.
newly (about 1 month ago) purchased a car (financed with a finance company) and I absolutely can't afford the payments and I want to get out of the agreement - 1) can I voluntarily offer the car back to the finance company or dealership (best case) OR 2) if I have it repo'd and say for arguement sake its worth $15,000 and I financed the purchase price, taxes and other fees equaling $19,000 (which is why I am in this hole)- am I obligated to repay the balance remaining of $4,000?? I know the consequences are 1) the repo listed on my credit report and if their is still a balance owed wouldnt they just "charge off" the balance and move on OR 2) does the finance company come after me for that $4,000?? And what steps do they (if any) take to get the $4,000? (court/ sue/ garnish wages). Please advise and thank you for your help!! time is of the essense - I would like to act on this - thanks again!!