Expert: Barnette Law Offices, LLC - 11/21/2008

Question
I was laid off from my local Chrysler dealer here in Florida, I can no longer make my car payment and I am very upside down, will Chrysler work with me maybe renegotiate my contract to payments I can afford, we both would benifit, I could make payments and would be willing to pay longer and they could get most of there money, right now I have 0% intrest but im about $10000.00 in the hole.  If they will not work with me and repo, how likely are they to sue me for the differance and how long does that take?

Answer
Laticia:

Not to be short but, all you can do is ask.  Chrysler is one of the better financiers when it comes to these issues but, in this market I cannot speculate as to how they may respond.

If they do repossess it, it is impossible to know for certain whether they will seek deficiency judgment.  If you own a home, they may.  Otherwise, if you're unemployed and have no real liquid assets, they may not.

If you're in Tennessee, we at Barnette Law Offices, LLC may be able to assist.  Ask for Jason Barnette.

Jason Barnette, Esq.
Barnette Law Offices, LLC
http://barnettelawoffices.com
615-585-3885