What percent of pay back on repo boat

[maxwell18]

How to handle the defecinty (sp) balance on a repo boat. If we don't pay I guess I 'll get sued. Just wondering can you negocate (sp) repay of the balance or does not work that way? What if I don't pay anything and get sued, I am 100% judgement proof?
Thanks

[tigergem]

You might be collection proof, but you probably aren't judgment proof. They can always take you to court and sue you and win a judgment. Whether they can legally collect is another story.

Sure, you can negotiate with them. Have they sent you a deficiency notice? If you want to settle it to avoid a judgment... offer them I dunno... maybe 20% of that amount. But don't pay it unless you get the settlement in writing and signed.

If you are planning on filing BK, I personally wouldn't bother trying to negotiate, because it's now an unsecured debt.

[maxwell18]

info

what is a dunno