I'll try to make the background short: I bought a car during my BK7 in 2006 because we turned in our other car. This past November, I totaled it. Insurance covered all but $3300, and I continued making my payments until I lost my job in February. Contacted the lender to ask if I could refinance to make the payments more affordable; they refused. Three times. So I had to stop paying them.
I've been ignoring the collection calls, of course, but today I got a letter saying it will be referred to the legal department. The balance is now at $2200. Are they really going to sue me over such a tiny amount of money? I made 27 on-time payments totaling $10,800 plus the insurance payment of $9,900 and this was on a car that was only worth $12k at the time of purchase!
I have just started a new job but if they garnish my wages we will lose everything. We barely squeaked by while I spent two months unemployed, but losing a month's pay while we're still catching up would kill us. I have never been through anything like this before; I would appreciate any insight you guys might have for me.
I've been ignoring the collection calls, of course, but today I got a letter saying it will be referred to the legal department. The balance is now at $2200. Are they really going to sue me over such a tiny amount of money? I made 27 on-time payments totaling $10,800 plus the insurance payment of $9,900 and this was on a car that was only worth $12k at the time of purchase!
I have just started a new job but if they garnish my wages we will lose everything. We barely squeaked by while I spent two months unemployed, but losing a month's pay while we're still catching up would kill us. I have never been through anything like this before; I would appreciate any insight you guys might have for me.
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