Legal Question in Business Law in Louisiana

Failure to pay or repossession

If a person bought a motorhome to use after retirement and found out after he retired that he could not pay for it, and was unable to sell it for enough to satisfy the debt, what are his options?

Asked on 12/17/05, 4:44 pm

1 Answer from Attorneys

Steve LeBlanc Steve LeBlanc, Ltd., (APLC)
0 users found helpful
0 attorneys agreed

Re: Failure to pay or repossession

Try to cut a deal with the lender for a percentage of the balance owed, bankruptcy (though that has changed October 17, 2005) or if the retiree has no assets other than his retirement, do nothing as retirement benefits cannot be garnished. However, if he has other property, that can be seized and sold to satisgy the debt. I suggest you consult with an attorney.

Read more
12/17/05, 10:21 pm

Related Questions & Answers

More Business Law questions and answers in Louisiana

Looking for something else?

Get Free Legal Advice

88333 active attorneys ready to answer your legal questions today.

Business Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Michael E. HendricksonAttorney & Counsellor at LawAlexandria,
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now