Minnesota  |  Business Law

Legal Question

Asked on: 7/23/13, 10:36 am

I have recently found myself in a situation where my vehicle was totaled during a storm via tree colapse during a lapse of insurance. The situation is worsened because there is a 12,000 lien on the vehicle. I have the abilitility for NOW to make payments, but i graduated college in May, have no assets and a lot of debt, which makes paying monthly on a totaled car not very realistic. I currently live at home with family, and am in an intern position which is ending within a month. I spoke with a bankruptcy attorney, whom suggested that i A) declare bankruptcy, or B) try and amass some money in order to try and work out a deal with the finance company, letting them know that i have no assets and bankruptcy is on the table.

I am looking for a few more opinions, and curious about the liklihood they will 1) work with me on a deal, and 2) how much i would most likely have to come to the negotiating table with.

Thank you!

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

125 Answers given in the last few hours.

8663 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search