Legal Question in Credit and Debt Law in Texas

repossession, now what will happen? help.

My car was recently repossessed. I am scarred of what action the creditor will take next, I cant sleep at night. Will they bring a suit on me? Will I need to go to court? I have heard that they will do anything form (nothing, to have a collection service try to collect, to put a lien on my house, to just ding my credit, to take my bank account, to remove personal property). I will be liable for about 6 to 10 thousand after the sell of the car. IF there is a judgment agents me, what can I expect after that? Will a lawyer contact me and make payment arrangements if there is a lien on the house can they file another suit agents me or collect money after that like seize my savings/checking account? I don't want to end up in court, or have a sherif at my door demanding money or items. If not can they put me in jail?

My last option to avoid this is chapter 7, my credit is all ready bad. God please help me.


Asked on 6/23/01, 6:26 pm

1 Answer from Attorneys
David Sergi Sergi and Associates PLLC

Re: repossession, now what will happen? help.

A seven is going to be your best option. It will be like a breath of fresh air because it will lift a weight from your shoulders. If you live in the Austin/San Antonio area we can help as we file many 7s and 13s

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Answered on 7/03/01, 1:18 pm


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