Legal Question in Credit and Debt Law in Illinois

We are retired living on a very limited income. We made an impulsive buy of a SUV that we cannot afford. We realize we can not sell it for what we owe. We have considered letting them repossess it but we have very good credit and do not want to jeopardize it. What are our options?


Asked on 11/01/14, 8:35 pm

1 Answer from Attorneys
Jonathan Shimberg Shimberg and Crohn, P.C.

The only thing you can do is sellbit for as much as you can and pay the difference to the lienholder at the time of the sale.

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Answered on 11/02/14, 7:13 am


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