Legal Question in Credit and Debt Law in Arizona

vehicle repo

i realize we are over our head with this new truck we purchased $515. per month. if we let them repo the truck what basically happens and what should we worry about.can they garnish wages and if so what%per paycheck. thanks for your help .


Asked on 7/31/08, 5:41 pm

1 Answer from Attorneys
Brian Blum Blum Law Office, PLC

Re: vehicle repo

If the truck is repossessed, the bank will sell it at auction. You will owe them the difference between what you borrowed and what they can get for it at auction.

If you don't pay them what is owed, they can sue you for the money. If they win, then they will get a judgment against you. The judgment can be enforced in several ways, including taking the money from your bank accounts, and garnishing your wages.

Talk to the bank and see if they will work with you.

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Answered on 8/03/08, 1:00 pm


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