Legal Question in Credit and Debt Law in Florida

Voluntary RV repossession

I bought a motor home 7 years ago, right after I retired, and have stayed current on the monthly payments, but the company I retired from filed chapter 11 bankruptcy and told me my retirement pension would be lost to their creditors.Without that monthly check I will not be able to keep the MH. I can't sell it because I probably owe At least $12,000 more on it than it's worth. Also I am 74 and unlikely to find a job and have no assets to sell.I could file bankruptcy and get rid of it or just call and tell them to come get it. Any suggestions?

Thanks


Asked on 3/21/06, 2:46 pm

1 Answer from Attorneys
Samira Ghazal Ghazal & Gomez, P. A.

Re: Voluntary RV repossession

The main question is if you live in the Motor home or have a seperate homestead. It appears that this is a "fun" vehicle. If you turn it in a repo will still show on your credit and they can sue you for the balance. Try to see if someone is willing to take over the payments. Also, consult a Bankruptcy attorney for their legal opinion.

Samira Ghazal

www.FLORIDACREDITLAWYER.com

Read more
Answered on 3/22/06, 4:19 pm


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