Vehicle shortfall

Posted on Monday, March 31, 2008

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I have hit that wall of panic and now have no idea what to do so I turn here as a last resort.

For background, I am a single mother who hit a rough patch a few years back which resulted two vehicles being reposessed. Now I am being sued for 27,000

I currently am working part time, going to school part time and trying to raise my children. I make about 15,000 a year and simply can`t afford this.

While I hate the thought of it I don`t see any other solution and would like to know can bankruptcy stop the constant harrassment and keep me from having to pay for these vehicles?

Filed under: Bankruptcy
 posted by Questions @ 8:05 pm
1 Expert Comment:

 At April 2, 2008 | 6:53 am , Barton Goth GCO Bankruptcy Trustees Said...

As soon as you file for bankruptcy there is an immediate Stay of Proceedings that is implemented. This is court protection from your creditors, meaning your creditors loose the ability to contact you with respect to your unsecured debts, which the vehicle shortfall would be included. As a result they cannot call you, sue you, garnishee wages, seize bank accouts or any of the standard things that collectors are able to do outside of bankruptcy.

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