Legal Question in Credit and Debt Law in Indiana

Bad Deal on Car

We have a car that we are still paying for. The car is a safety hazard. It shuts off for no reason and no one knows what's wrong. I've spent over $3000 to fix the car so far and that's more the the total value of the car. It can be 100's of things wrong with it and I'm not putting another cent into the car. We needed a car fast and we got a bad deal. The car started breaking down 3 months after. We are still making payments, but we want to know our options. Should we do a voluntary repo or file chapter 7? Or should we try to reach a deal with the creditor?


Asked on 1/17/08, 11:13 pm

1 Answer from Attorneys
Samuel Hasler Samuel Hasler

Re: Bad Deal on Car

I do not know if I can answer the questions you ask. What you seem to want is a decision between filing bankruptcy and making a deal with the creditor. I cannot make that decision and I never would make that kind of decision for a client.

I doubt that the creditor will want to make a deal. You can try and if they do not want to make a deal then you can file bankruptcy. A voluntary repo does not get you out from under the debt.

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Answered on 1/18/08, 6:07 am


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