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Repossession
Income Garnishment
California

Where can you find California laws on repossession and wage garnishment?

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2018-03-28 08:44:58
2018-03-28 08:44:58

Call DCA's Consumer Information Center toll-free at 1-800-952-5210.In the Sacramento area call (916) 445-1254.

I bought a new Dodge Stratus and lost my job and can no longer make the payments because I have lost my job and have IRS debts that are more of a priority.

Thus, I want to do a voluntary repossession.

The loan is much higher than what the car is worth ($22k loan and probably $10k value) This was because I loaded additional funds on to pay off the loan on my old car as part of a divorce settlement.

My question is: what is the downside beside the major hit against my credit for 7 years? Can Ford Motor Credit hit me with a deficiency judgment and sue me or garnish wages when if I get a new job?

My question is: what is the downside beside the major hit against my credit for 7 years? Can Ford Motor Credit hit me with a deficiency judgment YES and likely WILLand sue me or garnish wages when if I get a new job?YES, unless you pursue the B/K route

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The maximum garnishment permitted under California is found under California laws and regulations.

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The state applies federal guidelines to wage garnishment judgments. The maximum amount is 25% of disposable income with the first $154.50 (weekly based) being exempt from garnishment action.

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XpertHR offers information on ensuring compliance with wage garnishment laws. A garnishment is a legal mean for collecting money from an individual to pay off a debt.

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Generally the laws of the state where the contract was signed take precedence. I disagree. If the car is registered in California and titled in California, and located in California, California law applies. The validity of the debt, late fees, and so on ARE determined by where the contract was signed, but California has specific laws on the procedure for repossession.

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http://myfloridalegal.com/pages.nsf/0/9707bb48d49ce38985256cc9004e3ee5?OpenDocument you can start here


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