QUESTION
What else can the credit company do if we can't sell a motor home we can't afford?
Asked on Nov 29th, 2011 on Bankruptcy - Hawaii
More details to this question:
We voluntarily turned back a motor home we could no longer afford to pay on and could not sell it after the bottom fell out of everything. Besides a very black mark on our perfect credit for 40s, what else can they do to us? How can we stop their annoying phone calls?
1 ANSWER
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To stop the 'harassment' by the creditor, you can write a cease & desist letter, demanding the creditor stop contacting you. Some creditors stop contacting debtors, some don't. In the end, it is very likely that the creditor will file a lawsuit against you to obtain a judgment, so the creditor can garnish wages and/or accounts. Available options: work a settlement with creditor, if possible, to avoid a judgment and garnishment. Bankruptcy could be an option - that would force the creditor to stop contacting you as soon as the bankruptcy petition is filed.
Answered on Dec 02nd, 2011 at 8:37 AM