Legal Question in Credit and Debt Law in Louisiana

I've lost my job and have gotten behind on my vehicle by 6 months. The finance company has charged off the account in December and are saying they will repo the car. My son that lives in our home is handicapped and I'm asking if this has any relevance on the situation?

Asked on 3/01/10, 7:08 am

1 Answer from Attorneys

Robert Louque The Louque Law Firm, L.L.C.

Charge off does not mean he no longer owes the debt. It just means the creditor intends to sell it someone else. They still have a right to repossess the vehicle, sell it, apply the sale proceeds to the loan, and then sue your son for the remaining balance.

If your son wishes to maintain the vehicle, he should speak to a consumer lawyer in his area.

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Answered on 3/08/10, 1:41 am

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