I lost my job and did sometime for a DUI. During this time I couldn't afford my car and it was repo'd. After getting out of jail I have not found good steady work and still couldn't afford to get my car back. I just received notice that my car was sold at auction and I'm being sued for the balance, about 5100.00. I have a 400 dollar truck and nothing else, no bank accounts, no job, no nothing. I called the lawyer suing me and he said they'd settle for 3000.00. I called him back today to tell him I can get the 3 grand, now he says they want 4000. No way can I do this. I thought they'd want the cash while it was on the table, but guess they would rather let the court decide. I know I'll lose and have to pay fees and cost etc, but how can they get blood out of a rock? What can I expect to happen in court? I sure can't afford a lawyer.

Thanks for your thoughts,
Repo'd in Colorado

They can get a judgement for the balance on the loan, court costs, and attorney fees. The judgment will become a lien against all property you own; it is called a judgment lien. The lender can use the judgment to garnish wages or bank account. It will probably earn interest at a rate approved by your state government.