I Don’t Want to Go Bankrupt for an Old Car Loan Debt.

“Dear Steve,

I’m 20000 in dept (Car loans ) my wife no longer works , I don’t make enough money They want to much and said they would sue one already has.

We already retained an attorney we don’t want to go bankrupt

I don’t know what else to do.”

You have a few choices:

  1. Pay the debt in full.
  2. Negotiate monthly payments for the debt with the company that won the suit, if they will.
  3. Do nothing and have your wages garnished.
  4. Go bankrupt and terminate the debt.

Take your pick.

Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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