Legal Question in Credit and Debt Law in Illinois

Re: repossesion

Thank you for your question. Unfortunately, you dont have much to work with here. They are likely within their rights to sue you for the balance. Your options would be to contest the balance (somewhat difficult) or try to work out a settlement - short of just paying the entire balance off. If they are victorious in their lawsuit they will have a judgment and seek to enforce it against you. The only clear way to eliminate the debt would be through a bankruptcy.

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