Legal Question in Credit and Debt Law in Alabama
collection laws in alabama
my combined household income was cut by 2000$ dollars a month.our total bills monthly add up to 3700 a month. our total houehold income adds up to 3000 a month down from 5000 a month. our highest bill is our car payment of 780 dollars /mo. if i quit paying it and tell the company to come pick i t up can they still make me pay the difference of what they get for it when they sell it,or will it just simply mess up my credit? i guess simply i want to know if alabama is a non recourse state
1 Answer from Attorneys
Re: collection laws in alabama
In Alabama the auto dealer can sue you for the deficiency. It really depends on the auto dealer. Some I represent do not sue while others such as Ford, GM or other dealers will. You could consider bankruptcy as an alternative. If you have had the car for over 190 days you may be able to "cram down" or pay what the auto is actually worth rather than what you agreed to pay.
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