Legal Question in Real Estate Law in Georgia

i have a 2003 that was repo'd & received a letter from the creditor saying that i have a choice of the selling it at a public aution instead of a private sale but i have to send them a certified letter requesting this. which way is better ? i owe more than the car is worth. which way would they get more money? as i understand the law i have to pay the difference of what they get and what i owed originally.


Asked on 12/16/09, 11:59 am

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Both are usually disasters and you probably will see them get far less than book value. Usually you will then get sued and see you paycheck and bank account garnisheed. Get a lawyer and explore your options. Typically bankruptcy is an option that may wipe out the debt. If you're near metro Atlanta, call me to discuss options.

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Answered on 12/24/09, 9:44 am


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