Legal Question in Credit and Debt Law in Georgia

I purchased a car at a buy here pay her lot. The car lot sold my debt to a local finance company a few months ago. However, now I am unable to pay for the vehicle. I called the finance company and eplained to them that i couldn't pay for it and told them they could come pick up the car. The manager of the finance company told me she would not pick it up that instead she would turn it ocer to the magistrate office. I am just wondering what the legal aspect are? I did not borrow any money from the finance company, the business I did was with the car lot. Legally can they turn it over to the courts?


Asked on 12/11/09, 11:12 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Loans are frequently transferred (sold or assigned) to another entity. If you owe the money and are not paying as agreed, they can file suit.

Read more
Answered on 12/17/09, 2:37 pm


Related Questions & Answers

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