Legal Question in Credit and Debt Law in Florida

Repossession of a vehicle

I am a divorced parent of two paying child support which is garnished from my paycheck. I am two months late on my car payment and the finance company is threatening to repossess the car. I rent , I have no assessts and I have recently gone through consumer credit to solve my other financial woes. I understand they can garnish my wages to get the remainder of what I owe on the vehicle.Am I exempt from having to pay back the remaining balance?


Asked on 8/15/06, 2:40 pm

1 Answer from Attorneys
Barry Kaufman The Law Office of Barry W. Kaufman

Re: Repossession of a vehicle

No, you are not exempt from having to pay the remainder of the loan. After they repossess the car, they'll sell it and apply the sales proceeds to your loan. You will still owe the remainder.

Read more
Answered on 8/15/06, 3:08 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Florida