Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to helping you today.
can they hold me responsible for everything even though they should have caught onto what was happening before it got so out of hand and also with a $5,000 limit isn't that all I should be accountable for?
Yes, they can hold you responsible for everything although, depending on the wording of the contract, you may be able to stop your liability at $5000.
What you can consider is a bankruptcy, at least to stop everything while you get matters sorted out, plus with a bankruptcy you would have one judge dealing with all of the issues.
In most bank and card contracts they have language which allows the bank or card company to escape liability under any facts like this and it allows them to hold you solely responsible.
However, to know for sure you have to get a copy of all of the paperwork and agreements and read through them.
If you hire a local lawyer that does creditors rights, consumer law, or bankruptcy, then they can get those records and by filing a bankruptcy they can stop repossession of your vehicle. In addition, thee is nothing that says you ave to go forward with your bankruptcy. Many people use it as a way to "buy time" and stop foreclosures or repossessions.
You can find a lawyer to assist you by going to www.lawyers.com and in the section for Area of Practice enter Bankruptcy Law or Consumer Law. Either of those will have the skill set you need.
If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a Positive Rating so I receive credit for my work.
Of course, please feel free to ask any follow up questions in this thread. I want to be sure that all of your questions are answered.