Sometimes, though, you might not want your car back after it’s been repossessed. Maybe you know you can’t afford it or don’t need it, and you don’t want to put up a fight for it.
You might assume after they take your car that your debts are settled. Sadly, that’s not always the case.
If the repo company sells your car for less than you owe on it, you can still be held responsible for the difference. If you owe $10,000 and they sell your car for $5,000, they may come after you for the other $5,000.
How can they come after you? Well, the creditors can garnish your wages and attack your credit score. They might call you all the time and demand payments.
Sometimes you might still owe money on more than one car. That means TWO groups are coming after you for debts you can’t pay.
This may not seem right. After all, you gave up the car. Why would they still be allowed to harass you about it?
Fortunately, we can help. Our bankruptcy lawyers in Memphis have dealt with thousands of repossessions. We’ve seen cases like yours before and we can help you figure out what to do.
Don’t wait to contact us – it won’t help you to have your credit get worse or to lose more of your wages. Let us help you right now, today. The conversation is completely free, no strings attached.