I am in debt because of my bike how do I get out of this?

Question

It added up and now they want 8 grand or I will go to court. They say they are getting attorneys, am I going to jail? HELP! I dont know what to do I cant come up with 8 grand in 2 weeks.

Answer 1

You are  not going to jail. This is a civil matter. You can not get out of paying the debt but you can make arrangement with whom every hold you note/bill. They don't want the bike back because the kelly blue is probably less than the value of the bike.

Figure out your finances, 1. can you borrow the money from someone else? 2. Is there something you can sell to make a payment or pay it off? 3. Have you made new arrangement with the collector to help you out? Explain your situation, maybe they can put a couple of payment at the end of your contract, you will have to pay the finance charges, late fee and any other charges you have accrued but at least you won't feel like you are drowning in debt. If the company does this for you, you will have to remain in good standing.

If you can not pay you may have to do a voluntary repo and no one wins.  By the way the most that a court will do if you do not have the money is give a judgment; it is the right for the company to get the money if they can find it and/or make you pay the money the company is out after they sell your bike. They want money not your bike but they will take it if that is their only choose but you will have to pay court cost most likely and the money the company is out if they sell your bike. Court is messy and there are so many variables. If you are low on cash you can go to legal aid they are free (if they ask for money the are not a real legal aid) and see if you can speak to a consumer attorney. Take all your documents, contracts bills letters from company.  

Answer 2

You don't say 'how it added up'.  Are you behind in payments?  Were these for repairs?  If for repairs, they should have given you prices before having you authorize the work.

You don't give enough details for us to help you.

If they file, it will take up to 30 days for the summons to be given to you.  When you go to the court house to respond, you need to 'deny' the charges (this is what buys you time).  Aprox 45 days from then, you will be given a court date.  This gives you time to pull your paperwork that you may need all together.  Also, if the judge finds in your favor, it allows the judg to hit the other party for all the court costs.

Also during that 45 days, it might be possible to work out a payment plan.  You will need to contact the lawyer's office that is listed on your summons.  

Answer 3

You will not go to jail, but you will probably lose your bike and if they can't sell it for what you owe, you will owe them the difference. If they are taking you to court, you must have been ignoring requests from them for months to make your payments. Did you think they were just kidding? Don't fall behind in your payments and don't buy things you can't afford.  

Answer 4

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