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I am about to have to do a voluntary reposession on my car I got from drive time.... I live in Texas
Anonymous2 views3 answers
someone hit the front of my car and I cant afford to get it fixed....I purchased the car through Drive Time and I can no longer afford the large payments any longer.... can they do a levy on my bank account for the voluntary repo in Texas.... I owe Over 14,000 dollars and the cars worth around 6000 dollars need help on what to do.... i was thinking maybe bankruptcy since i have debt that im just getting further and further behind on each month....
Bankruptcy might be a good option to help you discharge all of the debt you are getting further and further behind on and give you a fresh start. Consult with a bankruptcy attorney in your area to get your situation reviewed. As to the main question, yes it is legal in Texas to garnish a bank account if a creditor first sues you and gets a judgment against you.
teven ZalewskiChapter 7 Bankruptcy AttorneyKew Gardens, NY ·
AS a general rule if your debt is under 25k it is not advisable to file bankruptcy. Of course that depends on your income to debt ratio. If your income is less than your overall debt then bankruptcy may be your only option
You do face some questions that need to be addressed sooner rather than later, and the issue surrounding the vehicle probably should not be the only determining factor as to how you proceed. In the right circumstances, it is sometimes possible to negotiate debt rather than go straight to bankruptcy. Give us a call if you would like to discuss.
