Saturday, August 6, 2011
What will happen after my car gets repossessed?
I have a 1 year old car that is upside down $15,000. I'm still current on the payments but it's either a large mortgage and food or the car. I have to let it go. SUCKS for my credit but I made a poor decision in buying it, don't preach (don't need moral/ethics lessons right now). I do need to know what's next. Can they garnish wages in California? Or sue me in court? Attach my house? Send Guido with a bat? At this point I don't care about my credit cause I don't owe anything on credit cards, I already have a house (no equity though) and I have another car that is paid off. I can live without good credit for another 10 years but I don't want to get a lawyer.
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