While going through a divorce, the company I worked for went out of business. For the last year I have been struggling, working part-time in a self employed status,(flooring business), I was given a loan my ex and I had taken out, where my vehicle was used for collateral. Because I am behind in the payments, the bank is threatening to repossess the vehicle. Is there anything I can do to avoid losing my vehicle. I want to pay the loan, but they are refusing to take smaller installments. Can the bank garnish any wages I may earn or the wages of my ex-wife?
Answer
You can contact a debt negottiation company, where they contact all your creditors and try to get a better result. Oak View Law Group is a good one.
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