Legal Question in Credit and Debt Law in Florida

Reposession coming back to haunt me

3 years ago I reposesed my vehichle due to my inablility to pay the loan. Just recently a collection agency contacted me at work and began asking for an immediate payment to settle the loan. I told them I would have to go over my financial situation and it wasn't something I could do on a ''cold call.'' They contacted me again, and I informed them I could only pay $50 a month and not the 300 a month they had requested initially. At that point the ''VP of the company'' got on the phone and began to wheel and deal stating that I owed $5000, but if he got it to a one time deal of $1900 to settle the loan would I be able to pay it.

I again attempted to reintroduce my initial offer of $50 a month but he kept trying to push the settlement on me. I finally had to get off the phone because of work, but not before he offered me an ultimatim to pay the $1900 or the loan would be sent to his legal department for garnishment. He made sure he reminded me that they could do this being I lived in the state of Florida. At that point I simply said, ''do what you feel you have to do.'' I have my family to support and my wife doesn't work, how do I settle this and keep my head above water? What should my next step be?


Asked on 6/23/04, 4:01 pm

1 Answer from Attorneys
Carol Lawson Carol A. Lawson, PA

Re: Reposession coming back to haunt me

First they have to sue you and obtain a judgment. Then they have to go back into Court again to get a wage garnishment. Fill bankruptcy it will wipe it out.

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Answered on 6/25/04, 12:24 am


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