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  1. #1
    Join Date
    Jan 2007
    Posts
    1

    Default Collections After a Car Repo

    My wife talked me in to getting a 05 car and I tryed to make payment on a car that was priced to hi and now I can not make payments on it
    If the repo the car I will owe more on it than it is worth by about 20000 dallars.
    If they sue me the onley thang i have is my house but i have homesetded it.
    can they get it or put a lien on it?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    71,832

    Default Re: Collections After a Car Repo

    They can do whatever is permitted under the laws of your state. It can reasonably be anticipated that your state has a homestead exemption, but they could conceivably pursue its value beyond that exemption (if it's worth more than the exemption amount). They can also go after your bank accounts and, depending on your state, possibly garnish your wages, and potentially go after other assets.

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