car repo
I'm considering filing Chpt7. I have a car through Ford credit that I had bought for my daughter, but is in my name. She stopped paying for it 6 mos ago. I've been making the payments since. I was going to let the car go anyway because I don't need 2 cars, but I'm trying to think of when it would be best to stop payments. How long does it usually take for a car to be repoed, auctioned, and Ford to come after me for the balance? The car has about 5 grand negative equity. How long would I have to file BK after the repo to prevent wage garnishment? I'm thinking of stopping all cc payments and this car payment as of Feb 1st and filing by mid March... Thinking this would give me time to save money for Lawyer fees and such.
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Contact Ford Credit and arrange for a voluntary repo.Originally posted by avidrain
-Good Luck!The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.
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