debt collections

I had a car that was recently repossessed and I have an outstanding balance of 8,000. What can i do legally to protect myself from my creditors. I had lossed my job and was unable to pay my car note.

Asked on May 26, 2009 under Bankruptcy Law, Texas


J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Unfortunately if you owe the money you cannot simply do a certain act to shield yourself. What you should do is contact the creditors and attempt to work out payment plans with them.

People all understand that hard times happen, even creditors. However they still expect you to be responsible for the debts you incur. If you explain your current economic status they may be able to work with you in building a program to help you pay off your debt without causing any undue hardship.

If they will not set up a payment plan and you fear they may proceed down a path you prefer they do not take you may want to consider hiring yourself a local attorney to handle these matters. They can talk to the creditors and get a better understanding of where things stand as well as use any tactics they may know to help you while you get back on your feet

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.