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Car Repossession Law

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One of the areas that bankruptcy protection may help is with a car repossession.

They can get their unpaid car. But what will you do when they sue you for the balance and possibly garnish your wages?


My Car Was Repossessed - What Next?

It adds insult to deep injury that they make you pay money -- often many thousands of dollars -- after your car repo. This is called a Deficiency Judgment or Deficiency Balance and can result in a wage garnishment. This car repo debt will be eliminated by a bankruptcy.

Deficiency Balance? Car Repo Auction Fallout

They're going to sell your car at an auction. If they get less than you owe as the winning bid (which is usually the case), you'll owe the rest. That is the deficiency balance referred to above. It usually is somewhere between $3,000 and $10,000 that you still owe on a car you don't have any more. Most people don't have that kind of money, so they usually sue you in court . You owe the balance debt, so they usually win. That means they get a judgment against you. This turns into a wage garnishment where they take part of your paycheck. This is what happens if you do nothing and bury your head in the sand, pretending that just because you gave the car back in a voluntary car repossession, everything is ok.

Do Something - The Problem Isn't Gone

The number one mistake people who have had a car repo in Los Angeles is giving the car back and pretending it's all over. Months go by and they think life has returned to normal. Wrong! You have a lawsuit in your future, and the longer you put it off, the more penalties and interest are going to hit you until you deal with it. If you pretend i'ts over, you're fooling yourself. If you wait too long, we can't help you because you've you don't have time or money to stop the garnishment. Then you are stuck letting them suck your paycheck every pay period until you've paid the whole thing.

Don't Wait - Act Now

Don't test them. Don't wait for the lawsuit and them to garnish your paycheck. Do something now and take care of it before you lull yourself into a false sense of security and end up paying the price.



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