If my wages have been garnished from adefaulted loan on a car but they never repossessed the car, what do I do with the car?
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If my wages have been garnished from adefaulted loan on a car but they never repossessed the car, what do I do with the car?
They just sued me for the full amount.
Asked on January 13, 2012 under Bankruptcy Law, Michigan
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If the lender has waived the security for the loan and has sued you directly for the unpaid balance on the loan resulting in a judgment against you, your option is to keep the car and do whatever you want to do with it.
Unfortunately you have to find a way to try and resolve the judgment against you. One way is to enter into a written agreement for monthly payments to pay it down. Another option is to try and pay a lump sum to the judgment creditor in exchange for a full written release and satisfaction of the judgment.
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