Legal Question in Credit and Debt Law in California
Repossed suv, served with complaint for money summons,whats best option
In March 03 my suv was repossed and I was served with a complaint for money in the amount of $19,949 on sept. 30,06. If I file bankruptcy for the suv which I no longer own, and keep my other debt can the bank come after me in later years to collect and if so considering I have little money, should I file or try to settle with the bank.
1 Answer from Attorneys
Re: Repossed suv, served with complaint for money summons,whats best option
If you file for bankruptcy, you have to list everything you owe, and everything you own. The law changed last October, and it is now based upon gross income compared with the mean income in your state, as well as whether there's any "discretionary" income at the end of the month.
You have 30 days to get an answer on file with the court before the creditor's lawyer utilizes other means to collection on the debt, including attaching your wages and/or bank accounts. Please let me know if I may be of further assistance.
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