Back in 2004 my husband purchased a motorcycle. When his mother became ill, he could no longer afford the motorcycle, as he had to drop his status down to part time. The motorcycle was then repossessed and he was still required to pay the difference in the loan amount and what they sold it for. Now Merchant's Credit Guide is calling us DAILY saying we have to pay the $5200 or they are going to take my husband to court. Does anyone have any advice about this or know what can be done to get them off our back (besides paying them, because I am a full time student and have to put our infant in daycare and my husband is enlisted army, so he makes next to nothing) Thanks!

This is what often happens in a repo. The vehicle is sold at auction for a less than the balance of the loan and the original owner is held liable for the difference, plus fees.

You didn't make it clear whether he did pay that balance due or not. If her didn't then he owes the money has you have to make some sort of settlement or payment arrangement otherwise they can sue.

He didn't pay it... yet. We would like to, but we just can't afford the payment options they're offering us. It's the only thing hindering him from good credit, so of course we want to fix it. Any suggestions?

If you can offer a lump sum settlement they may settle for a fraction of what's owed. That may enable you to get a loan ant a more affordable payment.

Check your state's SOL on the debt.

Also, is your husband active duty?