repo of a boatI had a boat repoed about 2 years ago. I recently received a letter demanding I pay the balance which is over 15k. I can't pa...

Question

repo of a boat

I had a boat repoed about 2 years ago. I recently received a letter demanding I pay the balance which is over 15k. I can't pay this off and I am not in the position to even make payments. Am I reqired to pay this. What actions can be taken against me?

Answer

Re: repo of a boat

They can sue you and garnish your wages. They have six years from the date of your last payment to sue you. Many times they just threaten but for $15,000,they will probably sue.

If you hire an attorney to write a letter, they telephone calls and letters must stop.