Question on what to do??

Question

I have an 04 Dodge Dakota, and still owe $14,000 on it and pay $530 a month, financed with Chrysler Financial.. Well with the price of gas and my salary, I fell behind 3 months for the second time. Earlier this year I fell behind 3 months and then paid everything in full... well fell behind again 3 months and owe $1,770. I tried calling them and working something out but they don't wanna hear it, they want the balance in full. I got a letter yesterday saying if the amount wasn't due in full by July 31, 2008 they will exercise the repo law. Today I get a call saying, "we don't want nothing to do with you anymore. Where is the truck located? We are going to garnish your wages as well!"

I don't know what to do?? I can't pay the 1k, I don't have it

Answer 1

You have been 3 months behind TWICE in less than 7 months.  Its no wonder they don't believe a word you say.  The call is BOGUS.  They CAN'T garnish your wages without a court order.  That requires a judgment from the court.  You won't even be sued for the deficiency until the repossess the Dakota and dump it at an auction.  Making the garnishment claim is actually a violation of Federal law.  Chrysler Financial does NOT behave that way.

Answer 2

They can't garnish your wages without suing you.

But, if you're upside down on a repoed truck, they probably will follow through and sue you.

Selling the truck isn't an option, unless you can get them to release the title.  And the only way to do that is to get a loan or credit card for the difference.

Answer 3

You could try to sell the truck quickly and pay them off.