Legal Question in Credit and Debt Law in New Jersey
Repossesions
On February 1995, I returned to the bank a vehicle I had purchased because I suffered an injury at work and couldn't make the payments. Since then I agreed to a monthly installement agreement which I honored until September 1999. At the time I had to ask themto revise the agreement because I was injured again and was unable to make full payments. Since then I have not been back to work (6 months) and do not expect to do so in the near future. I am not collecting unemployment or disability.
I would like to know if there is a possibillity they might write off my debt, and if so how do I go about it.
Sincerely,
1 Answer from Attorneys
Re: Repossesions
There certainly is a possibility that they would write it off. You don't know unless you ask. However, I believe that is unlikely. Whether they can collect from you is another story. You may be in a position to file bankruptcy. Or, you may be judgment proof, in the sense that there is really nothing that you have against which they could attempt collection efforts. You should immediately seek the advice of counsel. If you want me to assist you, call me at 856-546-8010. Mention LawGuru and your first consultation is free. Good luck! Rob Gleaner
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