Legal Question in Consumer Law in Michigan

leased vehical

I need to get out of my leased van, before I loss my house. I can not afford to make a $500 a month payment, my options seem limited. should I just let them repo the car


Asked on 5/09/09, 1:15 pm

1 Answer from Attorneys

Renee Walsh LawRefs Nonprofit

Re: leased vehical

If you let them repossess the car, you need to make sure you put your negotiations with them in writing. Attempt to get them to agree that if you relinquish the vehicle voluntarily, they will not sue you for the remainder of the contract. If they do sue you, they can procure a judgment that they can use to garnish your income or attach your assets. To avoid this, you can file for bankruptcy.

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Answered on 5/09/09, 1:40 pm


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