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You could file bankruptcy, but do you have any assets that a creditor could come after? Your disability payments are exempt from garnishment. The filing fee for a chapter 7 bankruptcy is $209 and the attorney's fees will be $500 at a bare minimum. Bankruptcy is very difficult to do all by yourself.
You get fined a fee by the bank, your account is frozen, and they will probably come after your paycheck through garnishment (even if the levy is removed) Levy is a step, garnishment follows.
Gov't backed student loans are exempt from BKruptcy....they will come after you thru tax refunds or garnishment.
Sell it under the table for a cash deal. Otherwise you can not hide it for long. They will find it. Oh and if you do sell it when it is under re-po then you can go to jail. PAY FOR THE CAR! Even if you sell the car and no longer have possession, if the finance company can't get the car back and the payments are not made, the will come after your paycheck in court. Now you don't have the vehicle but you are still paying for it with garnishment of your pay.
No, but it helps. Many people pay their bills instead of buying groceries, but they can't sustain that for long. The test for bankruptcy is not so rigorous. If you spend what you should to live on, and you cannot pay your other bills as they come due, you can file.
As in volentary repo? In my experience with a volentary repo....meaning i went and dropped the truck off before they took it lol......they will only garnish your paycheck if they have taken you to civil court and the judge has order a garnishment/ levy on your paycheck. Most likely they will take the vehicle back and sell it for what they can and use it to pay off the loan. If they come up short they will send your remaining account to collections and you will have to deal with them. Hope that answers your question. KYLE.
Yes you can still turn it in. They told me that because it was involved in the bankruptcy, I could stop paying at any time and either call them to come get it or take it to the nearest dealer. I chose to keep my vehicle at the time but have since traded in for another.
The Xerox Corporation never went into bankruptcy in the first place, so no strategies were needed to come out of it.
It will probably come out of your paycheck. If you own the company, it will come out of your profits.
Yhe lender cant do everything at once,they will get around to you and your car.
Yes! The whole point of cosigning a loan, from the lender's perspective, is that they have 2 people on the hook for the loan in the event it goes sour. If the person stops making payments (bankruptcy or not), they will come after the cosigner, making the cosigner wish he/she had never, ever cosigned.
Great question for your BK attorney