QUESTION
Can they take possession of the vehicle and will it go against my girlfriend’s credit? How?
Asked on Oct 07th, 2013 on Bankruptcy - Colorado
More details to this question:
My vehicle was levied upon. My vehicle was levied upon. It is financed, co-signed by my girlfriend so it is also co-owned by her. There are 3 years left on the loan.
2 ANSWERS
When a creditor levies on a vehicle, they take it subject to any financing. So upon the sale of the vehicle by the levying creditor, the financing should be paid off.
Answered on Oct 08th, 2013 at 12:19 PM
Deborah F. Bowinski
There is not enough information here. Why was it levied against? How much equity is there? What state do you live in and what exemptions can you claim?
Answered on Oct 08th, 2013 at 11:37 AM