Will a lender take you to court if the car is not worth a great deal?

Answer 1

Depends more on HOW MUCH YOU OWE. If they sell the contract, the buyer probably will because they have more to gain.

90 percent no. I drove a car for 2 years that was wanted for repossession. They didn't get the car until I totaled the car in an accident, then called the finance crooks and had them pick it up at the junkyard. They never were able to collect a dime from me in court.

Dont worry about it. Simply quit your job, move a couple times, pay cash for everything, dont go to your old hangouts, and then move again. the repo man may take years to find you. By then the car is worthless anyway

- It depends on how much you owe, and more importantly what you currently possess that could be attached to pay a judgement. Depending on your wage, employer and the state you live in your wages could be attached. If however you earn near minimum wage you can get a waiver from the court that disallows most of your earnings from attachment. With kids, necessary medical equipment, and other property exemptions allowed you may well be "judgement proof" - you'll probably still be sued for large amounts but further efforts to collect directly generally end in the legal sense once it is determined you're in that boat. The lender will almost certainly sell your note to collectors though, who will use every legal and often illegal means to harass and bug you in the hope you'll pay something. If the note is secured by collateral, like a vehicle, the lender will certainly repossess it and get what they can from it, then bill you for a deficit.