Legal Question in Credit and Debt Law in Georgia

I have a Class A RV with a conventional 20 year loan that I can no longer afford. What are reprocussions other than wrecked credit and I looking at legally if I decide to allow Back to take it back.


Asked on 2/09/10, 7:54 am

3 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

A lawsuit, judgment, bank account and paycheck garnishments...

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Answered on 2/14/10, 7:56 am
Charles W. Field Charles W. Field, Attorney at Law

They will probably sell it at auction, getting pennies on the dollar for its value. They will then sue you for the difference between what they got and your loan balance.

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Answered on 2/14/10, 8:15 am
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Don't do this without seeing a lawyer first.

They will likely sell it at auction at a loss, sue you for a large deficiency, garnishee your pay, attach your bank account, and ruin your credit for seven years.

You might avoid that with other options such as bankruptcy. Call me for details.

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Answered on 2/14/10, 8:54 am


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