I bought a Hyundia in Florida in Oct 2006. I moved to another state and could find a job. I filed for bankruptcy and the trustee's payments were so high I had to opt out of that as well. I have not made apayment on this loan since about 2008. Just recently the finance company contacted me and wants the balance of the loan which is way more than the car is worth.. what can I do?

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Originally Posted by 4520

I bought a Hyundia in Florida in Oct 2006. I moved to another state and could find a job. I filed for bankrupcy and the trustee's payments were so high I had to opt out of that as well. I have not made apayment on this loan since about 2008. Just recently the finance company contacted me and wants the balance of the loan which is way more than the car is worth..what can I do?

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Filing Bankruptcy isn't the same as getting it... what chapter? Did you ever get it? If you did, was this specifically listed as part of it?

If you failed to complete it then you have no choice... pay the people before they get a judgment and a writ of garnishment and take it, the fact the car depreciated is your issue not theirs, nearly every car depreciates at least until they become collectible, I don't see that happening here or with most cars.

They can get a judgment, and later even attach wages and bank accounts, even SS.
The debt probably is mostly interest on interest by now, with penalties, so find the amount you owed when you stopped paying, and approach them with a much lower interest rate and a payment plan. You can pay 'debt restructuring' companies to do this for you. They take their fee upfront out of the first few payments.
There is far more debt collection going on now, and courts are more lenient about granting judgments and far less lenient when people look for loopholes about attempts to locate and serve. Short of going off the radar, with no car, no credit cards, nothing, there is no way to hide.