Legal Question in Consumer Law in Michigan
leased vehical
I need to get out of my leased van, before I loss my house. I can not afford to make a $500 a month payment, my options seem limited. should I just let them repo the car
Asked on 5/09/09, 1:15 pm
1 Answer from Attorneys
Renee Walsh
LawRefs Nonprofit
Re: leased vehical
If you let them repossess the car, you need to make sure you put your negotiations with them in writing. Attempt to get them to agree that if you relinquish the vehicle voluntarily, they will not sue you for the remainder of the contract. If they do sue you, they can procure a judgment that they can use to garnish your income or attach your assets. To avoid this, you can file for bankruptcy.
If you have further questions or concerns, please contact me via my free legal advice website at www.lawrefs.com.
Answered on 5/09/09, 1:40 pm
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