Repossion after bankruptcy is closed

[jbandit2010]

We had to file bankruptcy in 2000. The vehicle I now have is going to be repossed due to I had to take a lower paying job and can no longer afford it. I am tring to find out what they can do to me. I understand they will sell the vehicle get what they can and then try to make me pay the rest. The problem is I dont have anything to pay it with my whole check is used for just everyday living exspense.

 

[army judge]

We had to file bankruptcy in 2000. The vehicle I now have is going to be repossed due to I had to take a lower paying job and can no longer afford it. I am tring to find out what they can do to me. I understand they will sell the vehicle get what they can and then try to make me pay the rest. The problem is I dont have anything to pay it with my whole check is used for just everyday living exspense.

You live in Texas.

There is very little that can legally be done to you after they "REPO" your car.

You may receive a few harassing calls, letters, etc..

They could even sue you in small claims for the balance.



By the way, if you owe less than $5,000 after they sell the car, they probably won't consider that.

If you are sued, all they will get is a court order saying YOU owe THEM "$X".

They have to collect that judgment.

That isn't easy and it is expensive.

If you own a home, they can place a lien on the home.



They can't foreclose on your home.

They can't even garnish or levy against your wages for these kinds of debts in Texas.

So, stop stressing, and keep trying to get through this difficult time in America.

This is not going to be that much a problem to you.

And, don't even consider asking, "Yeah, but _______________________."

This is a non-event, other than losing your car.

That even has a solution in Texas.

Many auto lots will FINANCE their own notes for people in your position.

Start asking and looking around for one of those lots.

Good luck!!!