Legal Question in Consumer Law in Minnesota

fall behind on car payments

My job has been slow for over a month now hours to betweet 30-40 hrs bi-weekly..I just got caught up on my car payment in may and now short. a family emergency has came about and I have to take my sisters 2 children for approx. a month, which also limits me from working full time hours. I don't want my lease company to take my car, is there any legal right I have??


Asked on 6/02/07, 11:57 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: fall behind on car payments

Call them IMMEDIATELY and try to get a 1-2 month forebearance period.

If they will NOT you may need to obtain a short term loan to make lease payments, or in the extreme, turn in the leased car and take the hit ([penalties etc.)In your financial situation you should NOT be leasing. You should save up and BUY a 3-5 year old car you can pay for outright.It's the cheapest way to own a vehicle (I know millionaires that do this-even through the vehicle is usually a Jag or a Mercedes.)

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Answered on 6/03/07, 7:45 am


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