Legal Question in Credit and Debt Law in Ohio
voluntary auto lease repossession
Due to Health we want to turn a leased car back to the bank. 2 years left, approx, 9000.00 left to pay.
Can the bank place a lein on property, what other ways can they collect? We live on my husbands SS disability and small pension. I am out of a job and cannot find work.
2 Answers from Attorneys
Re: voluntary auto lease repossession
The bank can place a lien on your real property. Your income is exempt from atachment since you are on social security and receiv a pension. I would suggest calling the bank and tell them that you are judgment proof ie. no assets to attach and they may write off the debt.
Re: voluntary auto lease repossession
The bank can place a lien on your real property. Your income is exempt from atachment since you are on social security and receive a pension. I would suggest calling the bank and tell them that you are judgment proof ie. no assets to attach and they may write off the debt.
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