Legal Question in Bankruptcy in New Jersey

Car repossession

I am in NJ and have several accounts with a Federal Credit Union. One of my accounts is a Car Loan. I fell behind on partial payment for Jan's month and then last months and they repossessed my car I went to the bank to pay the amount that is owed and they turned me away since I am behind in my other accounts as well and refused to take my payment or release my car until I pay the balance owed on all my accounts. Can they do that?


Asked on 3/08/07, 11:58 am

1 Answer from Attorneys
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: Car repossession

Without look up the law on the issue, I can say they probably can since your credit risk has changed so there is no point on them giving you the car when you can't show that you can pay the other accounts.

You also have to look at it this way, what are you going to do about it? If you try to take them to court, they will counter claim against you for other past due accounts.

My best suggestion is to just sit down with the branch manager to hammer out a plan to deal with your situation before it gets worse.

If they turn your accounts over to collection, give me a call.

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Answered on 3/08/07, 12:47 pm


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