My husband and I had a car repossed about six months ago and it was just auctioned off in April. We recently began gettting letters from some collection agency/lawyers office. They are already threating to sue us even though I tried to set up a payment plan, they wanted five thousand down just to be able to make payments! we don ‘t have that kind of money and if we did the car would have never been taken. We owe about 17,000 left. What kind of time frame is it before they sue? Are they just harassing me? They sent a letter that said if they didn’t have the full amount within 10 days then they will talk to the client (honda finance) about suing. I have called Honda and they said that they have nothing to do with it now. I’m so stressed! we are working to consolidate our debt and we are going to add the debt in with it. But they said that it would be six months before they could start it up. Will they sue before then? Help please. I am stressing!
Originally posted 2009-05-26 20:44:26.
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Well, with that amount of debt I would consider filing bankruptcy, it isn’t as bad as you think, I did it and soon afterwards got credit cards and a car loan, you are allowed to keep your home, cars and personal items, think about it,
in the meantime maybe this will help
I would suggest that you seriously consider a Chapter 13 bankruptcy. Consolidating your debt after a repo really isn’t helping your credit situation. The bankruptcy will allow you to keep any remaining vehicles and your home, while removing the stress of the calls/stallking via the phone. Good luck. Alot of people are afraid to file bankruptcy for fear it will ruin your credit. Most times your credit is better after a bankruptcy because creditors know that you can’t file again for some time.