What can we do about an old repossession without losing all of our property?

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What can we do about an old repossession without losing all of our property?

We had a car repossessed 5 years ago and they’re attempting to seize property/funds. We are a very low-income family trying to correct our young mistakes. Is there anything we can possibly do to at least set up some sort of payment plan?

Asked on July 31, 2011 Michigan

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you have a judgment against you and the lien/seizure process is just starting, then you need to find out if the underlying judgment was properly obtained. Did you get proper notice? Did you get an opportunity to settle the matter out of court? At this point, if you owe the debt and everything prior to today was properly done, then consider again speaking with the direct creditor or third party collection agency, to offer a pay plan. Otherwise, you may wish to look at other options, like whether a lien will simply be placed on your home if you own a home or if other personal property will be seized to pay for the judgment. The one thing you want to prevent is the freezing of your bank account or garnishment of wages.

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you have a judgment against you and the lien/seizure process is just starting, then you need to find out if the underlying judgment was properly obtained. Did you get proper notice? Did you get an opportunity to settle the matter out of court? At this point, if you owe the debt and everything prior to today was properly done, then consider again speaking with the direct creditor or third party collection agency, to offer a pay plan. Otherwise, you may wish to look at other options, like whether a lien will simply be placed on your home if you own a home or if other personal property will be seized to pay for the judgment. The one thing you want to prevent is the freezing of your bank account or garnishment of wages.


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