Legal Question in Credit and Debt Law in Nevada

I have a garnishment for a vehicle I bought in 2002. In 2005 I lost my job and owed around $6000 on this car which was reposessed. They auctioned off the car at $1800 and the amount I should have owed them is around $5500. On my credit report the account was closed. Now in 2009 I received a garnishment for over $18,000 for a vehicle. I am barely making the rent and have no means to go to a lawyer. I finally got in touch with the finance company and they decided to charge interest on this of 27%. Is this legal. I don't have the vehicle and the account was closed in 2005? I just don't have the money to pay for a car I don't have and would be paying 3 times the amount for.


Asked on 9/20/10, 7:35 pm

1 Answer from Attorneys
Jeffrey Cogan Jeffrey A. Cogan, Esq., Ltd.

You should probably file for bankruptcy. If you agreed to 27% interest, then they can charge it. they may also have thousands for attorney's fees in the law suit. If you would like to make an appointment for a bankruptcy consultation, you may email me at [email protected]

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Answered on 9/26/10, 3:36 pm


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