How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask MShore Your Own Question
MShore , Attorney
Category: Legal
Satisfied Customers: 25285
Experience:  Negotiate, Draft, and Review many complex commercial agreements each year.
Type Your Legal Question Here...
MShore is online now
A new question is answered every 9 seconds

I do not think I have a leg to stand on, but I am desperate

This answer was rated:

I do not think I have a leg to stand on, but I am desperate and praying for miracle. I live in NY. Last February I financed a car for my son. my credit was not grate and I was not employed full time. The interest rate is extremely high. The plan was for my son to work with a company servicing Access A Ride clients. He and his cousin were working on getting TLC license. Long story shot things did not work out as planned. Now I am stuck with a car I can't afford and worst yet I do not like. Are there any options open to me
Thank you for the post, I am happy to assist you by answering your questions. Do you have possession of the vehicle or does your son?
Customer: replied 3 years ago.

I have possession. I surrendered the plates.

Can you sell the vehicle?
Customer: replied 3 years ago.

I am not sure I know how to go about that. Further, I know it is worth much less than the bank note. The interest rate was extensive. If I sell the car and pay down the loan will the interest drop?

No, if you sell the car the bank would want the loan to be satisfied, otherwise it would turn into an unsecured loan. Does your soon have good credit now?
Customer: replied 3 years ago.

I do not think so

ok, what is the difference between what is owed and the current value of the vehicle?
Customer: replied 3 years ago.

20,318.35 - owed. The price was about 12,000. I doubt it was worth that. The care is a 2011 Toyota Camey

ok, what are your sources of income?
Customer: replied 3 years ago.

Currently I am unemployed. I was working part time ( I disclosed that to the dealer) when I signed for the car with the intention that the job would work out for my son and he will pay the note.

ok, do you own a home? If yes in what state is it located and what, if any, equity is in it? I am asking these questions because I am trying to determine what leverage you have to negotiate with them.
Customer: replied 3 years ago.

The home is my husbands. This is not an option. My son is from my first marriage. To be honest my husband has no idea I got myself in this situation. I know this is quite difficult

Thank you, XXXXX XXXXX asking because if the home is not considered your asset, it is exempt from this creditor's reach. I was asking of your assets to determine to what degree you may be considered judgment proof (i.e. lacking assets to satisfy a judgment and therefore the debt not worth pursuing as it would ultiamtely remain unsatisfied). Do you have any savings or other substantial assets?
Customer: replied 3 years ago.

Our car - that is my husband and mine is in our name. It is 2005 Hyundai

What is the market value of the car, minus any lien or loan?
Customer: replied 3 years ago.

no lien an no loan. Market value I am not sure. We purchased it about 5 years ago for around 12,000.

Thank you, XXXXX XXXXX it is unlikely an attactive asset for a creditor. Do you have any sizeable liquid assets (e.g. savings, stock)?
Customer: replied 3 years ago.

No, nothing

Thank you, XXXXX XXXXX are likely judgment proof (i.e. not an attractive target of suit for a creditor). Being judgment proof does give you a degree of leverage in negotiating a settlement or convincing a creditor not to pursue you and incur legal fees on a debt it cannot collect. Am I correct to understand that suit has not yet been filed? Also, do you have a good/excellent credit score that you want to preserve?
Customer: replied 3 years ago.

No there is not judgement. Payment is due on the 3rd. My son was making payments prior, but he lost that income and the job he was expecting did not come through. So no judgement. My credit is not poor...I would not say it is good enough to preserved although I would have preferred to build it as oppose to totally destroy it.

ok, you or your son should contact the lender to do a voluntary repossession. It will harm your credit, but not as much as a complete repossession would (where the lender has to hire a recovery agent to pursue the return of the vehicle). The lender would more likely than not pursue your son exclusively, especially after learning that you do not have the assets to satisfy a judgment. Please let me know if this does not answer your questions or if you have any follow up questions. If I have answered your questions, please positively rate my answers.
MShore, Attorney
Category: Legal
Satisfied Customers: 25285
Experience: Negotiate, Draft, and Review many complex commercial agreements each year.
MShore and 6 other Legal Specialists are ready to help you

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Previous | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan

Meet The Experts:

  • Tina



    Satisfied Customers:

    JD, BBA Over 25 years legal and business experience.
< Last | Next >
  • Tina's Avatar



    Satisfied Customers:

    JD, BBA Over 25 years legal and business experience.
  • Ely's Avatar


    Counselor at Law

    Satisfied Customers:

    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • JPEsq's Avatar



    Satisfied Customers:

    Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor
  • Law Educator, Esq.'s Avatar

    Law Educator, Esq.


    Satisfied Customers:

    JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
  • FiveStarLaw's Avatar



    Satisfied Customers:

    25 years of experience helping people like you.
  • Guillermo J. Senmartin, Esq.'s Avatar

    Guillermo J. Senmartin, Esq.


    Satisfied Customers:

    7+ years of experience handling various legal matters.
  • Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.


    Satisfied Customers:

    Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.

Related Legal Questions