Legal Question in Credit and Debt Law in Texas

Repo of vehicle

Lost job. Got behind w/payments on vehicle. Found work and tried to send payments to Catch up. Was told it had been ''charged off'' and they would accept nothing but full balance or return the vehicle and they will sell and apply that to the balance. What can I do? I need vehicle but can't pay balance. It has been reported as charge off bad debt. Please help.


Asked on 2/13/08, 1:47 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Repo of vehicle

Try bankruptcy. They are not going to change their mind about charge off. Bankruptcy might cost you some money, but you would acquire some options to working out your situation. You might be able to get another car and then you could "charge off" the debt on this car. Wouldn't that be sweet?

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Answered on 2/13/08, 1:56 pm


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