Legal Question in Credit and Debt Law in Iowa

I bought a car May of 2009 from a buy here pay here car lot, The car ended up being a big dump. I purchased the warranty with the vehicle but everything that ended up going wrong with the car was not covered. I voluntarily gave the car back because I couldn't afford the repairs and didn't that I would pretty much get screwed when they sold it at auction. I owed $7,000 left on the vehicle and they could only get $1,400 out of the car at auction. I have made a payment arrangement with them so that it did not effect me as in getting sued. however, now I have lost my job, I have tried explaining my situation to them and they are unwilling to work with me. I am at my wits end and am unsure of the consequences if I cant pay them right away.


Asked on 3/31/11, 10:46 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

The consequences of it are if you don't or can't pay you'll be harassed and ultimately sued for the deficiency.

Read more
Answered on 4/05/11, 5:34 pm


Related Questions & Answers

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