Legal Question in Criminal Law in Texas

being sued for vehicle what are my options?

I recently was served a notice that I am being sued for a vehicle that repoed due to not being able to afford the payments. The amount of the suit is the difference of what the bank received after they sold it at auction supposly and what my balance was. The amount owed is over $10k. I dont have the $ to pay that. What are my options? Can an attorney help?


Asked on 11/23/05, 2:48 pm

1 Answer from Attorneys
ERICK PLATTEN LAW OFFICE OF ERICK PLATTEN

Re: being sued for vehicle what are my options?

Hello there,

Unfortunately this happens all to often to people that have their vehicles taken by the bank and sold off.

As for your question, yes you are responsible to pay the difference that is in question. You are responsible because you signed a contact for the vehicle and the bank is going through the process to try and recover what they can.

If you don't pay the money this will be marked on your credit and most likely will be shown as a charge off in a few years. But it is going to ruin your credit.

I wish there was more I could do to help but this is the way the law is.

The only other thing you could do is try and work out a payment plan with the bank on the condition that they don't mark this on your credit.

I hope you have a happy thanksgiving.

Sincerely,

Erick Platten

PLATTEN LAW OFFICE

STATE WIDE REPRESENTATION

STATE WIDE TRAFFIC DEFENSE

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Answered on 11/24/05, 1:38 pm


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