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Ellen
Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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This is in reference to being sued for a deficiency judgment

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This is in reference to being sued for a deficiency judgment in the state of NJ for doing voluntary car reposession. It would be for two cars. My sister-in-law doesn't work at all. She is still married to my brother. She is looking into doing bankruptcy just for herself. A home in Vegas is under her name only and is going for a short sale.   A recommendation of not doing bankruptcy is coming about too. She is just worried about what happens later on after turning in these two cars. There will probably be a high balance left over after the sale and payment for her finance loan. Can they really go after her for this amount of money if she doesn't do bankruptcy? Especially since she doesn't work? Thanks for your help!

Hello,


Thank you for your question. I am happy to assist you.


Unfortunately the bankruptcy lawyer was correct. A deficiency can be entered on the cars for the balance remaining after the sale. Since she is not working, this may be an opportune time to file a Chapter 7 bankruptcy and obtain a fresh financial start.


I hope that the information which I provided was helpful to you.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
Customer/span>



THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

Customer: replied 7 years ago.
Thanks for your reply. I would just like to make sure that I'm correct on this. NJ does have it to where the law allows them to sue you for the deficiency amount? However, if she files bankruptcy, then they can't come after her then is how I understanf it for that. The other question though, since she doesn't work, can they still go after her at all in a law suit? Patty
Hi Patty,


NJ does have it to where the law allows them to sue you for the deficiency amount? Yes


However, if she files bankruptcy, then they can't come after her then is how I understanf it for that. Yes


The other question though, since she doesn't work, can they still go after her at all in a law suit?

Yes, she can still be sued and a judgment can be issued against her. When she is working in the future, the judgment holder can use the judgment to garnish wages and/or execute on any assets that she acquires.


I hope this helps.


Thank you,
Customer/span>



THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

Customer: replied 7 years ago.
Thanks so much for your help. That answers everything for me. Have a good one and Happy New Year! Patty
You are welcome. If you have any additional questions, you can direct them to me. Please remember to click accept otherwise the site will not pay me. Thank you and Happy New Year to you too.
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