Legal Question in Credit and Debt Law in Florida

Car Repossession

My car was repossessed three months ago and I am sincerely unable to pay the repossession balance due on the car. I informed GMAC that I was layed off, am not back on my feet financially and am unable to pay the balance in full nor the monthly payment amount that GMAC deems acceptable at this time. Meanwhile, Attorneys for GMAC have notified me that legal action will be taken against me within 30 days and that I will also be responsible for attorney fees. I have not returned their phone call for fear of saying the wrong thing. Also, I cannot cough up the money and my student loans are now due and cannot be deferred again. I am worried about my situation and would like to know what are my legal rights and how can I stop the harassment without filing for bankruptsy?


Asked on 7/06/01, 5:19 pm

1 Answer from Attorneys
Anthony Comparetto Comparetto Law Firm

Re: Car Repossession

Sadly it is hard to stop the creditor harassment without filing bankruptcy. Quickly your options....file bankruptcy, work out payment plan...shield assets to become uncollectible. You should speak with an attorney face to face to give you a opinion.

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Answered on 7/07/01, 1:43 am


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