Legal Question in Credit and Debt Law in Ohio

Repossion

I am injured an unable to work, I owe money for personal loans , can the finance company take my car? it is 7 years old and not financed, it is the only thing I acually own. it was not used as colateral.


Asked on 3/22/07, 6:22 pm

1 Answer from Attorneys
Mark Chuparkoff Chuparkoff & Chuparkoff

Re: Repossion

Probably not. If you owe money for "secured" loans, they can take whatever the "security" it. If the debt is "unsecured", the company would have to 1)get a judgment, and 2) collect on that judgment.

The only way I can see you losing your car, is if they sue you, get a judgment and are angry enough at you to have sheriff's sale go forward at which time your car would be available.

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Answered on 3/22/07, 7:34 pm


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