My car was repossed. I fell behind on the payments, the transmission went out, and I didn’t have a place to live for a short period of time. I had to choose and having a place to live won out. I’m employed and have just received the deficiency notice. I owe $11,000 which of course I don’t have.
What are my options and what do you recommend? I’m sure I’ll be receiving a notice before long advising me that they are suing for the 11 grand.
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Your options are limited. You can make an arrangement to pay them or you can discharge the debt in bankruptcy before they sue you.
Click here to find a local bankruptcy attorney you can talk this over with if you can’t afford to repay the $11,000.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.They Repossessed My Car and Now Say I Owe Eleven Grand. - Don by Steve Rhode