I am just wrapping up a nasty divorce that broke me financially. I had a minivan repossesed that I was upside down in. It needed about 5 grand worth of work and I still owed 11 grand on it. I got another vehicle and the bank repossed the van. They have turned it over to collections who have been threatening me with lawyers. They apparantly sold it for 3 grand, leaving me with a 9 grand balance. I have no idea what rights I have here, and not sure where to go for information. I am smart enough to know that I should not agree or sign anything until I know what my rights are. Any advice would be much appreciated.
Separation and divorce are the single biggest cause of consumer bankruptcies. A bankruptcy will stop the calls and wipe out the debt, letting you get a fresh start. I have written a Bankruptcy FAQ which should answer many of your questions about what is involved--it may be found at http://users.erols.com/lawyer/FAQ/br_faq.htm. I strongly recommend speaking with a local bankruptcy attorney. Most offer free initial consultations and he or she should be able to review your specific situation and let you know what you can and can't do. If you're in Maryland, DC or Virginia, please let me know--we may be able to help.
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