Legal Question in Credit and Debt Law in Massachusetts
vehicle repossession
my son has had a vehicle repossessed. He can not pay the loan due to health issuses with his new born baby. The credit company never should have given him a loan. What will the dredit company due? Can they attach his pay? He can not pay even if he could get the car out of repo it would be repossessed again.
1 Answer from Attorneys
Re: vehicle repossession
The financing company will try to see if your son can make up the arrears with fees in order to get the car back. If not, they will sell the car and sue for the difference between what they got for the car and what was owed on the loan, plus costs. Wages can only be garnished after a lawsuit is filed, after it takes its course, and after there is a judgment against your son.
Bankruptcy may help your son to fight off the creditor, and in limited circumstances even get his car back. It depends on a multitude of factors. Feel free to contact my office for additional information.
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