Legal Question in Credit and Debt Law in Florida

should i pay off my auto deficiency loan, ignore it, or hire a lawyer to help settle it to a lesser amount

Asked on 4/22/20, 6:00 pm

1 Answer from Attorneys

DMD P.A. DMD Law, P.A.

I assume you have missed payments. If you ignore it, they can repossess the car, and your credit score will suffer greatly and buying or leasing another car will be hard and your interest rates will be higher. You can try to negotiate a settlement with the lender yourself or hire a lawyer. If you have the money to pay it off, then that is your best option.

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Answered on 4/23/20, 11:59 am

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