Q: I bought a vehicle in oklahoma in feb18 with buy here pay here that had their own finance company. I surrendered .
I surrendered the car due to inability to pay in early April it took them until June 9
to send me the letter. They refuse to talk with me via written communication they want to talk on the phone instead so I'm unable to have any proof of what was said.
Because of change in financial status. I have offered them $100.00 month. If they refuse that amount can they still go to arbitration to garnish wages do they not have a cir court order to do that? And how much by law can they take in OK?
A: The deficiency balance that is still owed can be collected by the creditor in State Court by receiving a judgment and then collecting on the judgment with a wage garnishment. In Oklahoma up to 24% of a debtor's wages can be garnished for this type of debt. deficiency balances on repossessions can be discharged in a bankruptcy. If you are unable to satisfy this debt with monthly payments or by offering a one time lump sum settlement amount you may want to consider a free consultation with an experienced bankruptcy attorney.
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