The bank holds the note to me car. I fell behind in payments and they got a judgement against me. Now they have a garnishment. Can they take my car

Asked 10/14/2009 under Bankruptcy | 194 View(s) | More Legal Topics

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I am a lawyer in CT and practice in this area of the law.  If the contract with the bank has a security agreement with the note then they may be able to repossess the car once they get a judgment.  the bank rather take your money from your paycheck as that will get them paid back - i.e. if you have the car, you can work and make money.  I suggest trying to work with the bank to make a deal where you can repay the judgment and keep the car. If you can make a lump sum paying for 70% of what is owed, they may let you off.

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