Legal Question in Credit and Debt Law in Illinois

If my daughter voluntarily allows repossession of her car, how badly will that effect her credit and how can she know if the company will come after her for the money anyway? She made a very bad decision by signing for a very old car for a great deal of money a year ago. She fell way behind in payments and now the car doesn't even run. After contacting the State's Attorney, the 'hole in the wall' dealer is willing to fix some of the problems at their repair shop but not all that is wrong with the car so therefore the car will still not pass the emissions testing next month, she does not have the money to pay for the rest of the needed repairs and even if she did, she would still owe more than three times what the car is worth. She is on governmental assistance with two small children with a meager part-time job and cannot make the payments.

The car is a 2001 Bonneville, she bought it with 165,000, for 9600.00, they clearly saw her coming. It now has 185,000 miles on it and she still owes around to $6500.00. Please advice us as to the best way to handle this.

Asked on 8/13/13, 4:22 am

1 Answer from Attorneys

Jonathan Shimberg SHIMBERG and CROHN, P.C.
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The chances are her credit is all ready ruined. She can obtain a free credit report once a year. She should do so. It seems that she may be judgment proof. She may earn so little that even if and when they obtain a judgment against her, they can not go after any assets of hers.

She should discuss her current finances with a lawyer (and not buy any more cars from "holre in the wall" dealers.

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Answered on 8/13/13, 11:47 am

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