Whats the best way for my 26yr.no job,substance abuse,rehab's,lives at home,owes everyone, had his car repossessed.Thave 2 loans at he problem is the bank wants more money,we found out the car was sold for $3,000 at auction. They want $4,000 more, he owed about $4,000 on the car.The bank and car dealership work together, the car was a total lemon,the bank let(at the time)him have 2 loans at the same time. One was from car#1 he traded in and car#2..he was making $200- weekly..to much pressure.drugs..bad..court in 2 weeks..again..first time,lawyer..no show..can you help?? thank you..a dad
2 Answers from Attorneys
It seems the ship has sailed on the best way to handle these issues. If it was a lemon, we could have Demanded settlement or sued on that score and nipped these issues in the bud. At this point, with 2 weeks to go until trial, the time may have passed to raise those issues. We would need a retainer deposit, and to review the specific facts, and documents, file an appropriate pleading, and appear in Court on his behalf.
All that would cost at least a few thousand dollars and you could just settle the debt for that much.
THEREFORE, at this point, I would recommend strict enforcement of debt collection law. If there are violations here, and there often are, that could mean my fees will be paid by the defendants, costing you zero. In addition, I could possibly get the remaining debt reduced or eliminated in settlement.
If you have collection letters, saved voice-mails, caller ID photos, or phone records; or even just horror stories of intimidation and telephone harassment for collections from within the last year, please let me know. We may be able represent your son at no cost to you.
If your son has additional debt, like credit cards, medical bills, etc., then a Chapter 7 Bankruptcy will discharge all those debts, and the car loan deficiency.