Legal Question in Credit and Debt Law in Missouri
Auto Repossession
I co-signed for a car for my boyfriend who at the time was my fiance. He then skipped town with the car and made no payments. They found the car but not him and came after me for payment. They sold the car at auction but I have to pay the remaining $10,000. So I am paying for him and have no car. Now because they say I am not paying enough they are threatening to take me to court and sue me for ''25% of my income''. At the rate of payment it will be 7 years for me and I am a student and don't have alot of money. What recourse do I have? He works and gets paid under the table so no one can find him. Am I stuck with this expensive lesson? I am considering bankruptcy because I am about to lose my apartment because I am afraid of having my wages garnished by the auto place, as they have threatened. So I pay the auto place and don't eat. Again, is there anything I can do??? I want to take him to small claims court but I cannot find him and I was told even if a judgement was rendered, if they couldn't get to him, they would still come to me. So I would be out the money to take him to small claims court. Any suggestions would be helpful.
Thanks.
2 Answers from Attorneys
Re: Auto Repossession
You only have a limited time in which to bring suit against your ex-boyfriend. It is probably better to do it sooner than too late. There are ways of finding poeple and ways of serving people you cannot find.
If the auto dealer claimed they were going to get 25% of what you make, they were wrong. If anyone else made that statement on behlf of the auto dealer, they were wrong, and possibly violated the Fair Debt Collection Practices Act(FDCPA) Under FDCPA, you may be entitled to more compensation from the person that made that statement than you owe to the car dealer.
If one is sued, and judgment is taken the Judgment creditor can garnish the debtor's wages. What they get is a portion of the post-tax amount. If one claims head of household, that percentage goes down. For a rough example; if one makes $7.00/hr and is head of household, the amount sent to the judgment creditor each month could be as low as $45.
Bankruptcy may be the best choice for you. But, it is a serious decision with its own reprecussions. If you get the debt discharged, you cannot go after your ex. You will be out of school in a few years and may be better able to resolve this debt. Teh bankruptcy may limit your opportunities to buy a home or rent an apartment. Think carefully and get consultation.
Good Luck
Re: Auto Repossession
Bankruptcy is probably your best solution. Contact me I can help.
greg S. kessler
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