Legal Question in Credit and Debt Law in California

We are delinquent on a boat where the loan is twice what it is worth. The bank states they will reposess and then sue us for the difference. I'm in California. Do I have any protection or am I stuck with paying that balance "one day"?


Asked on 8/06/09, 1:35 pm

1 Answer from Attorneys
Larry L. Doan Law Office of Larry L. Doan

Well, like in the housing situation, what other protection? You made the loan. Negotiate a loan mod with the bank.

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Answered on 8/06/09, 5:16 pm


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