Legal Question in Bankruptcy in California
I am retired living on a pension. My credit score is 858 and my credit cards have a zero balance. I'm stuck with a recreational vehicle with a $36,000 balance and high interest and I can't find a lender for RV's with lower interest. What happens if I just walk away and quit making payments?
Asked on 2/29/12, 1:24 pm
1 Answer from Attorneys
Scott Jordan
Jordan Law Office
The bank will probably reposess the vehicle, sell it to pay down the loan amount, and then sue you for the difference. You should speak to a local bankruptcy attorney to discuss whether you are judgment proof or not, depending on your income and assets.
Good luck!
Answered on 2/29/12, 2:43 pm
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