Legal Question in Credit and Debt Law in Georgia

Re: laws about repos in the state of Georgia

If you let the car go back, they will auction it, often for very little, and you'll owe the balance of the loan, PLUS legal fees and various other charges. Often the balance may as large or larger than now. They can sue for that balance and then garnishee wages and bank accounts.

If the amount owed is large, a Chapter 7 bankruptcy may be appropriate. Since the law changes in October, and many who can file now cannot file then, it is vital that before you do anything that you meet with a lawyer now.

I'd suggest you get our free bankruptcy/debt relief packet at www.glenashman.com if you're near the Atlanta area and then call us (404-768-3509) where we can review your options with you and go over that worksheet.

If his name is not on the loan, they can only pursue you. Note that if you get a job later, your wages later can be seized, even years from now.