Legal Question in Credit and Debt Law in North Carolina

My sister and I got an educational loan. It went into default and now they have a judgement against us and took my sister's car that is not paid for about $10,000 owed on the car. The dept with lawyers fees is about 8,200. Are they able to take a car that is not paid for? How will that work out with the finance company of the car?


Asked on 1/08/13, 4:59 pm

1 Answer from Attorneys
Kenneth Love Ken Love Law

If they got a judgment against you, yes they can take your car. At some point, you should have been served exemption papers to protect your property. If you neglected to fill out the forms or did them incorrectly, you waived your legal protections in the vehicle. If they sell the vehicle, they will quiet the lien of your lender and then your lender will likely come sue you. You need to consult a bankruptcy attorney ASAP to se eif you can save the vehicle before they sell it.

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Answered on 1/08/13, 5:03 pm


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