Merchant acceptance-Kirby vacuum

[Nothappy]

Jurisdiction

Texas

Hi I purchased a Kirby vacuum little over a year ago. We have fell 4 months behind I am no longer working and I have 3 children. We missed the payments due to my husband being in construction and the horrible storms that came through Texas causing around 19" of rain and tornados...well it was a little too wet and nasty for any landscaping at that time. We have been playing catch up ever since. And we'll roof over our heads and utilities are more important than a ridiculously priced vacuum.

I called merchant acceptance the financing company told them what was going on and that I just needed to cancel the contract all together and they could pick their equipment up everything is in excellent condition the machine it's self has been used maybe 3 times everything else has never been used. Well they told me they were going to take legal action and there is no way out. Do you know if this is true or any way around it i need to do somthing fast!

 

[adjusterjack]

Well they told me they were going to take legal action and there is no way out. Do you know if this is true or any way around it i need to do somthing fast!

You took out a loan to buy the vacuum cleaner. You own the vacuum cleaner, you owe the finance company. It's not like a car that anybody can repo and recover money on. It's just a used vacuum cleaner.

If you default on the loan the loan could be sent to collections or you could be sued.

Since you are in such poor financial condition, have you considered bankruptcy? If you qualify for Chapter 7 your debts are discharged and you get a fresh start.

 

[Nothappy]

What if when we signed the contract the "manager" made it look like we could afford it when we honestly couldn't? I only made 6-800 a month she added 00s to that do it said thousands instead of hundreds ? Does that void any contract?

 

[army judge]

What if when we signed the contract the "manager" made it look like we could afford it when we honestly couldn't? I only made 6-800 a month she added 00s to that do it said thousands instead of hundreds ? Does that void any contract?

You went along with the alleged lie. You signed the contract knowing you made $800/month, not $8,000 or $80,000/month.

The lender will threaten many things. Even if the lender sued you, in Texas, your wages can't be levied against to satisfy those kinds of judgments.

The lender can harass you, so change your telephone number, or block his calls.

Ignore the communications that will soon rain down around you.

The vacuum cleaner is yours, even if you never pay the lender another dollar.

If you raise the "I didn't know the salesperson lied" defense, you'll be confessing to lying on the loan application. That, I'm afraid, is a variation on what amounts to several felonies in Texas.

Another option, which is legal, is a chapter 7 bankruptcy.
That, too, will allow you to keep the vacuum cleaner.

 

[Nothappy]

Okay then! I appreciate the knowledge.i guess Lesson learned, thanks for you time.