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Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 26141
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by West
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I filed personal Ch 7 bankruptcy and reaffirmed the vehicle.

Customer Question

I filed personal Ch 7 bankruptcy and reaffirmed the vehicle. My husband and I are separated right now, don't know what is going to happen. I cannot afford to keep car and neither can he. I am going to contact Ally with a Voluntary Surrender of vehicle and offer to pay $40/month til the difference in what they can and can't get for the car is paid. I realize they will put a judgment against my husband and me too, I guess, but can they garnish our wages in Florida if we've offered a repayment schedule in writing?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Roger replied 1 year ago.
Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney.

IF the creditor takes a judgment against you and your husband, it can then garnish your wages, garnish bank accounts or file writs of execution on property in order to collect on the debt.

However, if you offer the creditor an agreement to pay the deficiency - amount left after the vehicle is sold - and the creditor accepts it, the creditor should not be able to garnish you unless the agreement is breached/violated.
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 26141
Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by West
Roger and 3 other Bankruptcy Law Specialists are ready to help you
Customer: replied 1 year ago.


Do you happen to know if on average they accept someone's offer and have you ever talked with anyone that dealt with Ally Financial?

Expert:  Roger replied 1 year ago.
I've dealt with Ally for clients before, and it really just depends on the amount of the deficiency and the condition of the collateral at the time of surrender.

IF you are willing to voluntarily return the vehicle and if you're willing to enter into an agreed judgment for the deficiency, and if you're willing to pay a reasonable amount to get the debt paid over a few years. They're not likely to accept a small amount like $40/month. Instead, you're probably looking at having to offer a larger payment - probably something that will get the deficiency paid off within 1-2 years.
Customer: replied 1 year ago.


what if neither of us can afford more that $100/mo together, do you think they will honor that?

Expert:  Roger replied 1 year ago.
It would really depend on what they could get by garnishing both of you. If they can get more with a garnishment, that's probably the way they will try to go - - so you're going to have to offer them something close to 25% of your pay in order to make it attractive to the creditor.

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