Legal Question in Credit and Debt Law in California

Auto Repossession

I recieved a phone call from a auto repossessor saying that they received an order to repossess my car.

If i have not recieved a default notice on my auto loan can i negotiate that the missed payments be attached to the end of the loan term and what do i say to the creditor for successful negotiation?

Asked on 12/01/08, 11:20 am

2 Answers from Attorneys

Robert Mccoy Law Office Of Robert McCoy

Re: Auto Repossession

In order to negotiate you have to have something to negotiate with other than, "I don't have any money." In order to obtain negotion leverage, you can say to the creditor, "Here is my bankruptcy petition." Of course, you would have to file bankruptcy in order to say that, but, considering the fact the creditor is going to sue you for a deficiency, you are probably going to have to file for bankruptcy anyway.

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Answered on 12/01/08, 12:19 pm
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: Auto Repossession

This is very tricky. You should discuss it with an attorney. This public message board is really for general information. You need specific advice.

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Answered on 12/01/08, 8:33 pm

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