Legal Question in Credit and Debt Law in New Jersey

Taking new truck

I am going through a debt consolidation company that you pay into and they offer a lump sum of money to the credit companies to try and settle what you owe. One of the credit companies hired a lawer to get there money and it went to court. I was never brought to court and the judge settled on there side for $6000.00. My wife contacted the law firm they hired and they told her we have to pay $4000.00 to settle. The kicker is they told her if we can't pay in full they could turn the matter over to the sheriffs dept and they can take my 2 year old truck that I still have 4 years of payments on. Can they do such a thing or is it just a scare tactic. My debt consolidation company offered them $150.00 per month and they declined. Can they take my truck legally? I would be very thankful for any advice you can give me. Thank you.


Asked on 3/28/07, 6:38 pm

2 Answers from Attorneys
Glenn Brown Real World Law, P.C.

Re: Taking new truck

Who owns the truck? Do you have an outstanding loan and lien on the truck? What is your financial situation? Did you consider meeting with a lawyer and filing a chapter 13 bankruptcy?

Once they obtain a judgment they can go against your assets including a truck with the assistance of the sheriff.

Good luck to you. Perhaps you need to sit down with an attorney and choose your best plan.

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Answered on 3/28/07, 6:48 pm
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: Taking new truck

Yes, they can and they probably will. I suggest you go down there with a $3000 certified check and say take it or leave it, for payment in full. I'm sure they will just take it.

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Answered on 3/29/07, 12:58 pm


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