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I lost my job a year ago and currently have a job. My income…

I lost my job...

I lost my job a year ago and currently have a job. My income has dramatically dropped. I can no longer afford an RV that I owe 90,000. I have no credit card debt but the RV is worth less that I owe.

Lawyer's Assistant: What state is this in? And how old is the RV?

Should I voluntary repossess the vehicle or file foro BK

Lawyer's Assistant: What steps have you taken so far?

I am in washington the year of the RV is a 2006

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I dont think so

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Answered in 5 minutes by:
3/15/2018
P. Simmons
P. Simmons, Attorney
Category: Legal
Satisfied Customers: 36,547
Experience: 16 yrs. of trial experience
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Hi, My name is***** am an attorney with over 16 years experience. Hopefully I can help you with your legal question.

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Can you tell me, have you spoken to the lender about REPO? If so what was the response?

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Customer reply replied 1 month ago
No, I have not spoken with them recently, I spoke with them initially when I lost my job and they gave me 2 months off from making payments. But now my unemployment insurance is up and can no longer make the payment

Thanks
Bankruptcy is an extreme measure...it will kill your credit score for years. But it would eliminate the debt. So that is an option.

The voluntary repo is tough...since if you do this, they will sell the rig at auction...and whatever is the difference between the sales price and what you owe on the loan, they (the lender) will demand you pay. Again, you can use bankruptcy to erase that debt.

But I would try and sell the rig yourself...if there is any way you can come up with the difference (between the value and what you owe)? then you would be free of the burden completely.

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.

P. Simmons
P. Simmons, Attorney
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Customer reply replied 1 month ago
Thank you
Joycelaw
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