Hi, I'm from Arkansas and my husband had a stroke in May of 2001 and was able to return to work. After returning to work he had a 99 Camaro financed through a high risk finance company in Texas because of Chapter 13 in 1996.He paid faithfully on this loan. He has had a second more severe stroke in Oct. 2003 and unable to return to work, and no income. Advised to sign up on his disability by doctors. He called the finance company and wanted to voluntarily surrender this vehicle and was told he would still have deficiency to pay on the vehicle. And it would be withheld from income. Since his income would only be a Social Security disability check, can they withhold from that?? The loan on the vehicle is in his name ONLY! Any info will help..we only have until Dec. 8th when another payment will be due. Thanks
"...his income would only be a Social Security disability check, can they withhold from that?? " "Generally, Social Security benefits are exempt from execution, levy, attachment, garnishment, or other legal process, or from the operation of any bankruptcy or insolvency law." <http://www.ssa.gov/OP_Home/rulings/oasi/41/SSR79-04-oasi-41.html>
Very nice way of saying... They are lieing thru their teeth to try and scare you into figuring out how to pay for the car.
